Hong Kong Government Press Conference on Budget

Hong Kong Financial Secretary, Paul Chan Mo-po, speaking at a press conference on the budget on February 26, 2025 in Hong Kong. Hong Kong’s Financial Secretary today announced the government’s 2025 budget, with the government expected to record a deficit of HK$87.2 billion, approximately 11.22 Billion USD for 2024-25, with the budget expected to focus on spending curbs, as the government seeks to tackle a fiscal deficit likely to have widened to double the city's target amid rising global economic uncertainty and a weak property market, (Photo by Vernon Yuen/Nexpher Images)