Hong Kong is likely to miss its target of collecting HK$143 billion (US$18.3 billion) in revenue from land sales and premium revenue in the current financial year to March 31, likely contributing to the city’s first budget deficit in 15 years.The government has generated HK$113.8 billion of such revenue between April 1 and December 18, 2019, according to calculations based on Lands Department records. Land sales earmarked for the rest of current fiscal year could only possibly raise the tally…
Source : South China Morning Post
Read more…Hong Kong faces HK billion potential shortfall in land sales revenue as city faces first fiscal deficit in 15 years
