Hong Kong surplus hits HK$11 billion as finance chief ‘monitors’ Mideast war

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South China Morning Post

Hong Kong’s financial chief has revised the city’s fiscal surplus for the previous year to HK11 billion (US1.91 billion), nearly four times the original estimate, saying the ongoing Middle East conflict had a limited impact on the economy with gross domestic product (GDP) growth remaining strong in the first quarter. Financial Secretary Paul Chan Mo-po also dismissed concerns that increased bond issuance to fund the Northern Metropolis megaproject would burden future generations as “overly...