Hong Kong to reveal $12.9B relief plan – report
The government of Hong Kong will soon announce a relief package worth HK$100 billion ($12.9 billion) to counter the negative economic effect of the coronavirus pandemic, the South China Morning Post reported on Wednesday.
The amount that has been allocated for the plan will be equal to 3.5% of the city’s GDP, while its aim will be to assist impacted businesses by subsidizing up to 50% of workers’ wages, and focusing on sectors that weren’t covered by the previous stimulus measures, the report revealed.
Chief Executive Carrie Lam is expected to officially present the plan later in the day, according to the report. Social restrictions will be extended to April 23, the government said earlier.
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