‘Steady as she goes’ as Hong Kong bids farewell to deficits

Hong Kong raised its economic growth forecast to between 2.5 per cent and 3.5 per cent this year, as Financial Secretary Paul Chan delivered a budget speech focused on diversifying growth and boosting innovation. The city also will end deficits ahead of schedule, aided by economic growth and stronger stock trading, with an expected consolidated surplus of HK$2.9 billion for the financial year ending next month, Chan said on Wednesday. The government initially predicted expansion of 2 per cent to...