People’s Republic of China-Hong Kong Special Administrative Region: Staff Report for the 2002 Article IV Consultation Discussions
May 15, 2002
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This 2002 Article IV Consultation for Hong Kong Special Administrative Region highlights that a recovery from the Asian crisis started in 1999, and GDP growth surged to 10½ percent in 2000. However, before sustained growth could take hold, the global slowdown in 2001 dealt another blow to the economy, and real GDP growth dropped to almost zero. Although the renewed downturn was led by falling exports, domestic demand also slowed. The outlook for 2002 is for a moderate recovery, spurred by the expected rebound in global activity.
Subject: Budget planning and preparation, Competition, Deflation, Expenditure, Exports, Financial markets, Income inequality, International trade, National accounts, Public financial management (PFM)
Keywords: Budget planning and preparation, Competition, CR, economy, exchange rate, Exports, GDP, Global, growth, growth of government expenditure, Hong Kong economy, Hong Kong SAR, Income inequality, ISCR, SAR economy
Pages:
36
Volume:
2002
DOI:
Issue:
100
Series:
Country Report No. 2002/100
Stock No:
1HKGEA0022002
ISBN:
9781451816877
ISSN:
1934-7685
