LegCo passes appropriation bill for Budget as Paul Chan signals solid Q1 growth
發佈日期: 2026-04-29 20:12
TVB News
The Legislative Council passes the Appropriation Bill for the Budget in its third reading.
Financial Secretary Paul Chan also signals the city's first-quarter economic growth rates are expected to show continued positive momentum.
Lawmakers resumed the second reading on the Appropriation Bill this morning.
At the legislature, Financial Secretary Paul Chan says short-term downside risks to the global economy have markedly increased because of the Middle East tensions.
But he notes the blow could be cushioned by the mainland's steady economic development and a range of Hong Kong's economic indicators which have delivered satisfactory performances.
With that, the city's Q1 gross domestic product will likely reflect that solid trend.
Financial Secretary PAUL CHAN (Voice of Translator): "We will closely monitor the situation, changes in oil prices, conduct ongoing dynamic assessment and adjust measures based on actual conditions and needs. If energy prices remain high or rise further, it will increase inflationary pressures in major economies which in turn will affect their monetary directions and interest rate trends and the global capital flows as well. As a small and open economy, Hong Kong will inevitably be affected by the external environment, we will prepare for various scenarios."
On concerns over the government's proposal to raise its borrowing ceiling -- which was questioned to be a possible attempt to "borrow money to repay debt," the finance chief says Hong Kong's ratio of government debt to GDP remains at a prudent level.
PAUL CHAN: "If the government's financial position is stable, then we are going to issue shorter-tenor bonds to lower the interest payment. It doesn't mean we don't have the capability to issue bonds with longer tenor."
He says the administration will also consider issuing longer-term bonds to meet financing needs for public works projects.
The bill for the budget was eventually passed by lawmakers through a show of hands.
