News Snapshot:
HONG KONG, Feb 22 (Reuters) - Hong Kong is set for back-to-back deficits but will give cash handouts and ease stamp duties for first time property buyers, to support an economy buffeted by prolonged COVID-19 restrictions, the city announced in its budget on Wednesday. The global financial hub recorded a deficit of HK$140 billion in 2022/23, more than double the HK$56 billion it initially estimated, Financial Secretary Paul Chan said, when delivering the budget at the Legislative Council. He forecast another deficit for 2023/24 of HK$54.4 billion. Chan told legislators the city was at the beginning of an economic recovery,...
