<div id="readability-page-1"><div><p>S&amp;P Global Ratings affirmed Hong Kong's &#34;AA+&#34; long-term and &#34;A-1+&#34; short-term issuer credit ratings, with a stable outlook. The affirmation reflects S&amp;P's expectation that over the next three to four years, despite uncertainties in the global economic environment, Hong Kong's economy will remain relatively resilient. Under this scenario, even if the government accelerates infrastructure spending, the overall fiscal deficit is projected to average below 4% of GDP.</p><p>S&amp;P expects Hong Kong's overall fiscal deficit to persist over the next five years, as the government continues to invest in Northern Metropolis projects. The operating account is expected to remain in surplus, supported by a gradual easing of the drag from weak land sales and the government's strict control over operating expenditure. (ha/u)</p></div></div>

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<p>S&P Global Ratings has affirmed Hong Kong's 'AA+' long-term and 'A-1+' short-term issuer credit ratings, maintaining a stable outlook. This decision reflects expectations of resilience in Hong Kong's economy despite global uncertainties, with a projected fiscal deficit averaging below 4% of GDP over the next five years due to ongoing infrastructure investments.</p>

S&P Affirms Hong Kong "AA+/A-1+" Ratings; Outlook Stable