Leung Sets Target of Balancing Budget by March 2007

摘要

Hong Kong―Financial Secretary Antony Leung said he aims to cure Hong Kong of deficit spending within five years, but held off administering tough medicine for at least 12 months. In a speech proposing the coming fiscal year's budget, in which he forsees a 7.7% rise in spending, Mr. Leung said the city's finances were on an "unacceptable" trajectory of widening deficits and diminishing fiscal reserves. He said the city aims to slow the growth in government spending to help achieve a balanced budget by the year ending March 2007.