Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles.
The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s -- but their scale was a fraction of the HK$252 billion ($32.4 billion) shortfall in the 2020-21 fiscal year.
