Stability Is Top Priority In Post Occupy Hong Kong Budget

Two months after the dust of the Umbrella Revolution settled, the Hong Kong government tabled its annual budget with measures to tackle the negative impact and sentiment brought by the event. For the coming year, the city's administration projects its nominal gross domestic product (GDP) to grow at 2.5% to 4.5% (real GDP at of 1% to 3%), with 3% to 3.5% inflation.

HK Financial Secretary John Tsang expects government revenue to reach US$61.5bn on the back of US$56.8bn in expenditure. An estimated surplus of US$4.7bn would mark the twelfth consecutive balanced budget for the cash-rich city and bring its fiscal reserves to a staggering US$110.3bn by the end of the next financial year (sufficient to accommodate 23 months of government expenditure).