Global Macro Service > Research Briefings > Hong Kong Sar
In our view, the Hong Kong SAR fiscal 2021 budget provides insufficient support to the fragile recovery. Although we expect GDP to grow 4% this year, economic output will remain significantly below its potential. The withdrawal of fiscal stimulus – with the deficit budgeted to decline around 6ppts of GDP – will limit the recovery from the 2019-2020 slump.
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