TNAG-0453-FCO40-518-Budget-of-Hong-Kong-1974-1975-1975 — Page 53

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The FEER suggested he painted too rosy a picture.

so far available for 1974 are ambiguous.

Statistics

Admittedly, comparing Q1

1974 and 1973, consumer prices are up 22% (compared with the 18% for

And in the first 4 months year 1973 against 1972 mentioned above). exports, up by 42%, have risen fractionally faster than retained imports

Crudely extrapolated, however, the figures give a trade deficit for year 1974 of nearly HK$5 md. compared with $3 md. in 1973. (An alternative

estimate gives a 1974 deficit closer to $4 md.

one

can take one's choic

How far this year's higher deficit may be offset by invisible receipts (which may or may not benefit from the climate of world inflation) and

by capital movements is anyone's guess.