Recurrent expenditure has increased by 34.5 percent from HK$361.8 billion in 2017-18 to the approved estimate of HK$486.6 billion in 2020-21, Carrie Lam, says. This is an average annual growth of 10.4 percent, “which is the highest among all previous terms of government.'' She says different sectors have been severely affected amid the tense relations between China and the United States as well as the outbreak of social unrest and the coronavirus pandemic. She says it will be hard to continue to increase government expenditure. “However, to avoid impeding the development of Hong Kong, we will continue to invest in infrastructure, develop our land resources and meet economic and livelihood needs.''

Source: The Standard November 25, 2020 03:45 UTC