The International Monetary Fund (IMF) raises its forecast for Hong Kong’s economic growth for this year to 3.8 percent, as reported by a local finance source. Hong Kong’s Financial Secretary Paul Chan Mo-po says the Hong Kong Special Administrative Region (HKSAR) government is even more optimistic about the outlook than the IMF projection.
Chan makes his comments after attending the IMF and World Bank Group’s annual meetings in Bangkok. According to his blog, global discussions at the meetings focus on forces weighing on the international economy, including a slowdown in parts of the world. Chan argues Hong Kong can draw on its positioning to benefit from international capital flows and highlights technology developments, including the AI boom, as factors supporting the city’s growth prospects.
Overall, outlets align on the IMF’s higher growth estimate and Chan’s view that Hong Kong’s outlook is stronger, while differing mainly in how much emphasis they place on the global context and on the specific drivers Chan points to for local performance.
