Hong Kong’s economy is anticipated to see growth between 2.5% and 3.5% in the first quarter of 2024, according to the city’s financial chief. The expected growth is attributed to the ongoing recovery from the challenges posed by the COVID-19 pandemic.

The Financial Secretary, speaking optimistically about the economic prospects, highlighted several factors contributing to this positive outlook. These include the gradual easing of pandemic-related restrictions, improving consumer sentiment, and a rebound in global trade activities.

The government’s efforts to stimulate economic recovery through various initiatives, including investment in infrastructure projects and support for small and medium-sized enterprises (SMEs), are also expected to bolster growth.

Despite the optimistic forecast, challenges remain. The financial chief cautioned that uncertainties in the global economic environment, including geopolitical tensions and fluctuations in financial markets, could impact Hong Kong’s economic trajectory.

Additionally, concerns persist regarding the potential resurgence of COVID-19 and its implications for public health and economic activity. The government continues to monitor the situation closely and remains prepared to respond accordingly to safeguard public health and support the economy.