Chief Executive (CE) Fernando Chui Sai On said he is cautiously optimistic about the city’s economic prospects, anticipating that the local economy will remain positive and steady next year.
The CE stressed to reporters on the sidelines of an event celebrating National Day last Thursday that the government was financially stable, claiming a modest fiscal surplus would be posted for the year.
He also said that his government would obey the Basic Law in keeping its expenditure within its revenues, as well as reconsidering any non-essential expenditure given the current gaming downturn
Asked by reporters about the government plan to invest in infrastructure projects on Mainland China, the CE claimed that none of the city’s fiscal reserves had been spent yet. He added that the government would submit proposals to the Legislative Assembly once such projects are initiated.
Commenting on UnionPay’s new restriction on annual cash withdrawal limits for card users outside the Mainland, Mr. Chui said the government would collaborate on the new guidelines, as well as closely observing any changes in tourists’ consumption behaviour in the territory.


Source

---