Hong Kong’s economy is set to bounce back from the devastation wrought by the Covid-19 pandemic to register growth of up to 5.5 per cent in 2021, a boost that will allow the finance chief to dish out coupons worth HK$5,000 to each permanent resident, the Post can exclusively reveal.
Financial Secretary Paul Chan Mo-po is set to deliver the optimistic outlook for the city’s economic recovery during his budget address on Wednesday morning, assuming the successful roll-out of the city’s Covid-19 vaccination drive, which launched this week.
He is expected to forecast economic growth of 3.5 per cent to 5.5 per cent for the calendar year. The gross domestic product forecast would take the economy back to 2017 levels.
To revive the economy, he is expected to offer HK$5,000 in consumption coupons to each Hong Kong permanent resident of the city.
The coupons will be subject to restrictions, including the requirement that eligible residents must be living in Hong Kong. They will be distributed to each individual in stages, rather than all at once.
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Reporting by Denise Tsang, Tony Cheung, Jeffie Lam, Joyce Ng, Kanis Leung and Elizabeth Cheung