HONG KONG - Hong Kong may have to downgrade its annual growth forecast in August for the second time in three months, the city's financial secretary told the South China Morning Post , pointing to th
HONG KONG - Hong Kong may have to downgrade its annual growth forecast in August for the second time in three months, the city's financial secretary told the South China Morning Post , pointing to the weak recovery of the economy from the Covid-19 pandemic.
Mr Paul Chan Mo-po told SCMP in an interview on Monday that there was a chance the forecast would be further downgraded soon partly because the city's economy in the second quarter was not as strong as expected, and the Covid-19 situation had taken more time to ease than he had predicted. The Hong Kong government in May this year revised down the real gross domestic product forecast for 2022 to 1 per cent to 2 per cent, from an earlier 2 per cent to 3.5 per cent, after taking into account the deteriorating export outlook.
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