 "Hong Kong")
Hong Kong is set to record its first budget deficit in 15 years, the city's finance chief warned Monday, as the business hub reels from the twin shocks of the trade war and seething democracy protests.
In the latest grim assessment for the city, financial secretary Paul Chan told lawmakers that the economy was set
to contract 1.3 per cent in 2019 hitting the city's usually bulging coffers.
Chan blamed the 2019-2020 deficit on decreased tax revenues, a slowdown in land sales and recent economic sweeteners he unveiled in a bid to win over the public during a tumultuous year of unrest.
"At the
