China News Service, July 26. According to Dagong Wenhui All Media reports, the Hong Kong Special Administrative Region government earlier lowered its forecast for Hong Kong's annual economic growth from 2% to 3.5% to 1% to 2%.
The Financial Secretary of the Hong Kong Special Administrative Region, Chen Maobo, said in an interview with the media that the results of the review of the annual economic growth forecast will be announced in mid-August, and the forecast may need to be lowered again.
Chen Maobo pointed out that, driven by consumer coupons, consumption has rebounded, but exports and investment are still sluggish, and the economic performance in the second quarter was not as strong as expected. Currently, Hong Kong is still affected by the fifth wave of the epidemic, and the epidemic has affected the supply chain and economy. Performance, Europe and the United States are plagued by high inflation. It is expected that Hong Kong's economic data in the second quarter will improve compared with the first quarter, but it will not be an encouraging figure.
Chen Maobo mentioned that the second phase of consumer coupons issued on August 7 will help stimulate private consumption.