“The actual impact of this [coronavirus] epidemic
on Hong Kong’s economy is quite large, and may be higher than the impact
of SARS on the economy in 2003,” Financial Secretary Paul Chan wrote in
a blog post.
“In addition to the epidemic, the local situation
has not completely escaped the haze of last year’s social events. It is
necessary to maintain a cautious attitude towards the short-term
economic outlook.”
“Such “tsunami-like” shocks may cause the
unemployment rate to deteriorate rapidly. Indeed, the projected fiscal
deficit for the new fiscal year (2020/21), in terms of amount, may be
the highest ever.”
“The affected areas are no longer confined to
retail, catering or tourism-related industries… I hope we can survive
this economic winter that may not be a half-moment.”
https://seekingalpha.com/news/3542435-hong-kong-warns-of-coronavirus-related-economic-winter
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