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HK Govt Plans to Raise Borrowing Ceiling to $900B for Infrastructure & Sustainable Bonds
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The Hong Kong government served a notice to the Legislative Council (LegCo) today (11th) to introduce a resolution under the Loans Ordinance to raise the borrowing ceiling from $500 billion to $900 billion for the Infrastructure Bond Programme (IBP) and the Government Sustainable Bond Programme (GSBP) under the Capital Works Reserve Fund. As the government will accelerate the development of the Northern Metropolis (NM) and other public works projects related to the economy and people's livelihood, the government needs to raise the borrowing ceiling to $900 billion to increase its capacity to finance public works projects, Secretary for Financial Services and the Treasury, Christopher Hui, said. The government's capital works expenditure for 2025-26 is estimated to be about $125 billion. The 2025 Policy Address announced that the government would earmark an additional $30 billion in the next two to three years to increase expenditure on public works projects to drive sustained economic development and support the local construction industry. The capital works expenditure is estimated to be about $128 billion for 2026-27 and will remain at a similar level from 2027-28 to 2030-31. Subject to the legislative process, the government will move the resolution in LegCo on 1 April. AAStocks Financial News Website: www.aastocks.com |
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