International News Desk
According to Ug News Media Europe,The COVID-19 pandemic and strict restrictions have cost Hong Kong’s economy $27 billion.UG NEWS Media Europe reports with reference to foreign mass media that information about this was included in the report of the investment bank “Natixis SA”.According to experts, if it were not for the coronavirus pandemic, Hong Kong’s economy could have grown by an average of 2.8 percent over the past three years, and as a result, the country’s gross domestic product (GDP) would have been 7 percent higher than in 2018. In 2022 alone, Hong Kong’s GDP fell by 3 percent.
Hong Kong authorities have closed the city’s borders for three years, imposing a strict quarantine due to the pandemic. The restrictions have been gradually lifted throughout 2022. Currently, preparations are being made to open the border with mainland China. According to the calculations of the Natixis SA investment bank, the opening of the border will lead to a 4 percent increase in Hong Kong’s economy in 2023. Also, the normalization of economic activity can help it maintain its status as a financial center.
As of June 2022, Hong Kong’s population has dropped by 216,000, or 2.8 percent, to 7.3 million over the past 24 months.
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