英语新闻丨HK budget eyes growth amid fiscal consolidation

Hong Kong Financial Secretary Paul Chan Mo-po said on Wednesday that the city's economy is set to grow this year by around 2.5 percent to 3.5 percent, while the outlook for 2025 to 2028 is an average expansion of 3.2 percent.2月28日，香港财政司司长陈茂波表示，今年香港经济预计增长2.5%至3.5%左右，而2025年至2028年有望平均增长3.2%。Chan announced the expected growth figures as he delivered the special administrative region's 2024-25 budget. Last year, the city's economy grew 3.2 percent.陈茂波在提交特别行政区2024-2025年度财政预算案时公布了预期增长数字。去年，全市经济增长3.2%。While Hong Kong's economic development will be sustained and solid in the medium term, the SAR government will implement a comprehensive fiscal consolidation program to contain operating expenditure growth and increase revenue as the city has incurred four budget deficits over the past five financial years.尽管中期看来香港经济发展将持续稳健，特区政府仍将实施全面的财政整顿计划，以遏制营运开支增长并增加收入，因为香港在过去五个财政年度已出现四次财政赤字。He said that Hong Kong's anticipated economic growth would take place amid "the gradual revival in global demand, the anticipated progressive declines in interest rates in the United States and the euro area, and the country's focus on promoting high-quality development".陈茂波表示，当下全球需求逐步复苏，美国和欧元区利率预期逐步下降，国家大力重点推动高质量发展，这都将推动香港实现预期的经济增长。Amid the subdued economic environment, the SAR government revised its forecast consolidated deficit for the 2023-24 financial year to HK$101.6 billion ($13 billion), 86 percent higher than the figure forecast by Chan last February. Meanwhile, the city's fiscal reserves are expected to fall to HK$733.2 billion by the end of March this year, from HK$834.7 billion in the previous year.在经济环境低迷的情况下，特区政府将2023-2024财年综合赤字预测修订为1,016亿港元，比他去年2月预测的数字高出86%。与此同时，预计到今年3月底，香港的财政储备将从去年的8,347亿港元降至7,332亿港元。For the 2024-25 financial year, the administration forecasts another budget deficit of HK$48.1 billion after taking account of bond issuance proceeds, and fiscal reserves will decrease to HK$685.1 billion by the end of March 2025. Total government expenditure and revenue for the year are estimated to be HK$776.9 billion and HK$633 billion, respectively.在2024-2025财年，政府预计将发债所得款项计算在内，财政赤字将再达481亿港元，财政储备将于2025年3月底减少至6,851亿港元。 全年政府开支及收入总额预计分别为7,769亿港元和6,330亿港元。"I welcome the budget's fiscal consolidation program, which focuses on restoring fiscal balance while fully taking into account the financial constraints of the public and businesses," said Hong Kong SAR Chief Executive John Lee Ka-chiu.香港特别行政区行政长官李家超表示：“我支持预算案的财政整顿计划，这次计划的重点是恢复政府财政平衡，同时充分考虑公众和企业面临的经济难题”。Tan Yueheng, a member of the Legislative Council, said, "The budget strikes an appropriate balance between considering people's livelihood expenditure and supporting development momentum, embodies the dual combination of proactive government and an efficient market, and also takes into consideration the long-term sustainability of public finance".立法会议员谭粤恒表示，预算案在考虑民生支出和支持发展动力之间取得了适当的平衡，体现了政府积极主动和市场有效的双重结合，也考虑到了公共财政长远发展的可持续性”。Federation of Hong Kong Industries Chairman Steve Chuang said that amid challenges such as the fiscal deficit, an uncertain external environment and high interest costs, Hong Kong should "adhere to the prudent public finance principle of living within our means, while continuing to invest in innovative technologies and new industries and support small and medium-sized enterprises, reflecting the government's flexibility in financial management".香港工业总会主席庄志天表示，面对财政赤字、外围环境不明朗及利息成本高企等因素构成的挑战下，香港应坚持量入为出的审慎的公共财政策略，同时继续投资创新科技和新兴产业，支持中小企业，保证政府财政管理的灵活性。Finance Secretary Chan added that while budget deficits in recent years have limited the government's space in introducing relief measures, he understood the problems faced by some residents, so some of these measures will be maintained but on a reduced scale.财政司司长陈茂波补充道，虽然近年的财政赤字限制了政府推出纾困措施的空间，但他理解部分居民面临的问题，因此会保留部分措施，但规模会有所缩减。Another prominent measure in the budget is that, starting from Wednesday, property purchasers do not need to pay special stamp duty, buyer stamp duty or new residential stamp duty when buying residential properties in Hong Kong.预算案中的另一项重要措施是，从2月28日开始，购房者在香港购买住宅物业时无需缴纳特别印花税、买方印花税或新住宅印花税。The SAR government will also issue HK$120 billion worth of bonds in 2024-25 to enhance financial inclusiveness and public participation in infrastructure and sustainable development.特区政府将在2024-2025财年再次发行1,200亿港元债券，以提升金融普惠性以及增加公众对基建和可持续发展的参与度。fiscal consolidation财政整顿public participation公众参与financial inclusiveness金融普惠性