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Hong Kong's dilemma is where to spend its massive budget surplus of $21.5

Financial Secretary Paul Chan has said he does not agree with Macau-government-style cashback schemes. Macau residents are set to receive around HK$9,000 this year - the eleventh public handout since

Eric Lam | Bloomberg  |  Hong Kong 

While Hong Kongers suffer through the world’s least affordable property market, their government is enjoying the flip-side of the real-estate and stock-market boom: One of the biggest fiscal surpluses anywhere.

When the territory’s budget is unveiled on February 28, Chief Executive Carrie Lam and Financial Secretary Paul Chan may have as much as HK$168 billion ($21.5 billion) left over from the 2017-2018 fiscal year to play with, according to an estimate by accountancy firm PwC. That’s 10 times the original government forecast of HK$16.3 billion, thanks to higher ...

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First Published: Mon, February 26 2018. 09:52 IST
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