香港特区政府财政司司长陈茂波11日发表网志称，新一份财政预算案将于2月25日发表。受惠于金融市 场畅旺，包括印花税在内的整体收入增加，让香港特区政府的经营账目可提前恢复盈余。随着香港特区 政府对工务工程加大投入，本年度的资本账目仍会录得赤字。 陈茂波表示，香港经济正稳步发展。以占香港本地生产总值26%的金融业为例，去年香港金融市场表现 亮眼，为相关行业带来了更大的市场需求及正向预期。至于占香港本地生产总值15%的贸易行业，去年 亦因出口强劲，为整体经济提供了支持。盛事活动吸引了更多旅客访港，也为市面增添良好气氛。今年 是国家"十五五"规划开局之年，为香港带来新机遇。 陈茂波指出，去年，香港特区政府提出加强版的财政整合计划，在管控开支增幅上，取得一定效果；同 时，受惠于金融市场畅旺，包括印花税在内的整体收入增加，让政府的经营账目可提前恢复盈余。然 而，政府整体的开支仍然上升，教育、医疗及社会福利三个范畴的开支占政府开支接近60%。香港特区 政府要精准配置资源，维持公共服务的可持续性。 "同时，我们也须积极投资未来，特别是北部都会区的提速发展。"陈茂波说，随着香港特区政府对工务 工程加大投入，本年度的资本账目仍会 ...

Group 1 - The new fiscal budget for Hong Kong will be announced on February 25, benefiting from a robust financial market and increased overall revenue, including stamp duty, allowing the government to restore operating surplus earlier than expected [1][3] - The financial sector, which accounts for 26% of Hong Kong's GDP, showed strong performance last year, leading to greater market demand and positive expectations for the industry [3] - The trade sector, contributing 15% to the GDP, also supported the economy due to strong exports, while major events attracted more tourists, enhancing the market atmosphere [3] Group 2 - The government has implemented a strengthened fiscal consolidation plan, achieving some success in controlling expenditure growth, although overall spending continues to rise, with education, healthcare, and social welfare accounting for nearly 60% of government expenditure [3] - The government plans to invest in future developments, particularly in the Northern Metropolis area, despite recording a deficit in the capital account due to increased investment in public works [3][4] - The ratio of the government's outstanding debt to GDP is approximately 12%, which is considered very healthy on an international scale [4]

Core Viewpoint - The Hong Kong government is implementing a salary freeze for all civil servants and political appointees in the 2025/2026 fiscal year to control government operating expenses amid a projected budget deficit of HKD 87.2 billion [1][5][6]. Economic Outlook - Hong Kong's economy is expected to grow by 2% to 3% in 2025, supported by stable employment, moderate inflation, and increased tourism [3][4]. - The government acknowledges challenges such as international geopolitical tensions affecting trade and investment sentiment, as well as high-interest rates impacting local asset prices [4]. Fiscal Measures - The government plans to reduce recurrent government expenditure by 7% by the 2027/2028 fiscal year, addressing the ongoing budget deficit [6][7]. - The total expenditure on civil servant salaries reached HKD 156.2 billion in the last fiscal year, marking a year-on-year increase of HKD 7.1 billion [7]. Housing Supply - The government aims to supply 190,000 public housing units over the next five years, with a long-term goal of 308,000 units in the next decade [10][9]. - The government will not sell commercial land in the upcoming year due to high vacancy rates and will consider converting some commercial land for residential use [11]. Technological Development - A budget of HKD 1 billion has been allocated to establish the Hong Kong Artificial Intelligence Research Institute, aimed at promoting AI research and application [12][13]. - The Northern Metropolis, including the Hong Kong section of the He Tao Cooperation Zone, is set to begin operations this year, with HKD 3.7 billion reserved for infrastructure development [15][16].