(Bloomberg) — Hong Kong Financial Secretary Paul Chan warned that a fiscal deficit would present an obstacle to the city’s recovery from the pandemic.
“After three years of the pandemic and a weak external economy, a high fiscal deficit has accumulated so that economic recovery still needs to be consolidated and investment in the future needs to be supported,” Chan wrote in a blog post on Sunday.
He added the city “is on the road to normalcy and the economy is regaining momentum.”
The comments come before Chan delivers a budget presentation on Wednesday as part of efforts to chart


