By | October 29, 2019

Hong Kong’s leader Carrie Lam aforesaid the territory is probably going to record negative growth for the year as months of protests have knocked the economy.

The unrest has discontinuous businesses and dealt a very serious blow to the business enterprise and retail sectors.

The warning comes sooner than preliminary gross domestic product figures due on weekday that ar expected to point out port entered a technical recession.

That is outlined as 2 consecutive quarters of negative growth.

In a informing in port on Tues, Ms Lam aforesaid the third quarter growth numbers ar doubtless to point out that outcome.

To combat the holdup, she aforesaid town has to this point injected over HK$20bn ($2.6bn; £2bn) to support the economy together with the transport, business enterprise and retail sectors.

Ms Lam aforesaid the govt can deliver additional relief measures, while not giving specific details.

Her comments follow the same warning from the territory’s Finance Secretary Paul Chan over the weekend. He aforesaid it’d be “extremely difficult” to hit the government’s pre-protest forecast of growth of between 1/3 and I Chronicles for 2019.

“The blow to our economy [from the protests] is comprehensive,” adult male Chan aforesaid.

The demonstrations began over a projected surrender bill between the territory and PRC, and have evolved into demands for larger freedoms.

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