Hong Kong’s State Finance and Economy Chiefs Will Be Hit by the Omicron Wave

Hong Kong's State Finance and Economy Chiefs Will Be Hit by the Omicron Wave

Economists at Morgan Stanley and Bloomberg Economics have already cut their economic growth forecasts for Hong Kong, citing the delayed reopening of borders with China amid the omicron wave.

Hong Kong Financial Secretary Paul Chan anticipates that the city’s economy should endure a shot as a fifth wave of Covid diseases started by the omicron variation grabs hold. The government presently can’t seem to give financial gauges for 2022, which is normal during Chan’s yearly budget discourse in February, yet he said in his blog entry on Sunday that he will likewise consider the global pandemic, production network bottlenecks and changes in monetary policies by western central banks in making his expectations.

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