Hong Kong Economy Grew By 6.4 Percent In 2021: Govt
Hong Kong, (UrduPoint / Pakistan Point News - 28th Jan, 2022 ) :Hong Kong's economy grew by 6.4 percent in 2021 but the city warned that anti-Covid measures in response to the latest outbreak may stifle further recovery, a government spokesperson said on Friday.
GDP rose by 4.8 percent in the last quarter of 2021 compared to the previous year, capping off a year where Hong Kong's economy saw an overall rebound.
"The Hong Kong economy recovered further in the fourth quarter of 2021 thanks to robust export performance and improved private consumption," a government spokesperson said in a statement on preliminary GDP estimates.
But the finance hub is struggling to contain outbreaks involving the highly transmissible Omicron variant, with confirmed cases setting a new daily record this week.
"The latest wave of epidemic and the tightened anti-epidemic measures have posed renewed pressures on economic activities and weighed on sentiment," the spokesperson said, adding that Hong Kong's economic prospects in 2022 could also be affected by high inflation in major economies and tensions between China and the United States.