Hong Kong's budget to fall into red amid coronavirus outbreak, unrest

Hong Kong on Wednesday unveiled a record budget deficit as it dishes out a HK$120 billion (US$15.4 billion) relief package to shore up an economy battered by the China-U.S. trade war, lingering social unrest and the coronavirus epidemic.Announcing the annual budget at the legislature, Financial Secretary Paul Chan said HK$37.8 billion deficit was expected for the 2019 fiscal year, which spans from April to March, marking the first budget deficit since 2005, while a record high deficit of HK$139.1 billion was estimated for the 2020 fiscal year."I forecast a deficit for the next five years as…READ FULL ARTICLE