News Snapshot:
The balance of risks facing Hong Kong’s economy is tilted to the downside, the IMF said in its annual assessment of the finance hub. Risks to the economy include ongoing uncertainty linked to the COVID-19 pandemic, which could affect the flow of people and further weigh on consumption, the IMF said in its report. The Washington-based lender expects economic growth to slow to 3 percent this year from an estimated 6.4 percent last year. Economists have started downgrading their forecasts for Hong Kong as strict virus control measures, including travel bans, curb tourism and retail spending in the territory. Photo:...
