a. How would Hong Kongs budget surplus change in 2019 if its central bank moved interest rates
Question:
a. How would Hong Kong’s budget surplus change in 2019 if its central bank moved interest rates up?
b. How would Hong Kong’s budget deficit change in the long run if its central bank’s monetary policy led to a rapid appreciation of the Hong Kong dollar?
In 2017, Hong Kong’s government debt was 43.9 percent of its nominal GDP. In the same year, it witnessed a budget surplus of HK$138 billion. In March 2018, Paul Chan, Hong Kong’s financial secretary, promised to return 40 percent of the surplus to the community but stressed the importance of saving for the future.
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a The budget surplus of Hong Kong could be affected in several ways if the central bank decided to increase interest rates 1 Government Borrowing Cost...View the full answer
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