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CE praises 2009-10 Budget

     The Chief Executive, Mr Donald Tsang, today (February 25) praised the 2009-10 Budget for being pragmatic and forward-looking in responding to the financial crisis as well as laying the foundations for long-term growth.

     "The global, national and local environments have changed dramatically since last year's Budget. Our GDP is expected to contract this year, and of course our revenues will be hit hard as well.

     "To tackle the formidable challenges, the Financial Secretary has adopted a counter-cyclical approach by boosting spending and providing some carefully considered and affordable financial relief measures for the public and business.

     "I fully support the Financial Secretary's approach and spending priorities," the Chief Executive said.

     Mr Tsang noted that overall the Budget would help create jobs, boost confidence, foster a caring community, and lay the foundations for future economic development.

     "I hope the community will welcome the Budget that addresses pressing, short-term problems and also includes measures that promote our long-term growth," the Chief Executive said.

Ends/Wednesday, February 25, 2009
Issued at HKT 12:49


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