Economic news

Hong Kong's economy in 2017 expanded at fastest pace in six years

Hong Kong's gross domestic product expanded 3.8% last year, at its fastest pace since 2011, the city's Financial Secretary Paul Chan said. It is expected that in 2018 GDP will increase by 3-4%.

Mr. Chan stressed that he was "cautiously optimistic" about the forecast for this year, citing a positive trend in the global economy. He expects inflation to accelerate to 2.2% in 2018 from 1.5% last year.

The city budget surplus will likely reach 138 billion HK dollars ($17.64 billion) for the fiscal year, which will end on March 31. This is significantly higher than the initial government's official forecast of 16.3 billion dollars.

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