Economic forecast to be assessed

July 07, 2012

Financial Secretary John Tsang says the Government will make an assessment in August whether to adjust Hong Kong's economic forecast.
 
Speaking to the press after attending a radio programme this morning, he said the International Monetary Fund lowering its economic growth forecast will have an impact on Hong Kong because the city is a small and externally-oriented economy.
 
“We rely a great deal on our traditional markets in Europe and America. Meanwhile, countries in Asia have also been slowing down, so we are now looking out, we keep that in mind. In August, I will make an assessment whether we need to adjust our forecast.”
 
Mr Tsang urged people to make prudent decisions in buying property as the interest rate may be adjusted.