Hong Kong facing 5 yrs of deficits
By Teddy Ng | China Daily | Updated: 2009-02-26 07:42
HONG KONG: This Asian financial hub is looking at five years of budget deficit, its Financial Secretary John Tsang said yesterday.
The region's GDP will fall between 2 and 3 percent this year as a result of the worldwide financial turmoil, he said.
As a result, infrastructure projects designed to create jobs and stimulate the economy were the key features of the budget he presented yesterday.
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