HKSAR Gov't Determined to Wipe out Budget Deficit

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Last updated at: (Beijing Time) Sunday, February 16, 2003

HKSAR Gov't Determined to Wipe out Budget Deficit

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The Hong Kong Special Administrative Region (HKSAR) government is determined to take measures in the upcoming 2003/04 budget to be delivered next month for wiping out the existing budget deficit in a few years.

HKSAR Financial Secretary Antony Leung made the remarks in a press briefing Saturday after visiting a major shopping mall and meeting citizens in the Eastern District of Hong Kong Island. He said the visit was meant to allow him to listen to views from the public before he finalized the 2003/04 budget to be delivered on Mar. 5.

Winding up his visit after listening to about 100 citizens gathering at a school hall in the district in an hour-long meeting, Leung commented on the budget deficit issue and said the HKSAR government has heard opinions from the public, and will prevent waste of resources.

"We shall take into account the sustainability of the economy and the citizens and shall adopt a series of fair and reasonable measures to clear the budget deficit," Leung said, stressing again the government's goal of achieving a balanced budget in 2006/07.

Leung told reporters that citizens do have a lot of expectations from the HKSAR government regarding its measures in store in the upcoming budget to propel the economic development in Hong Kong. He stressed that the government will take measures to stimulate economic development.

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