Hong Kong Inland Revenue Department: Reducing the tax reserve certificate interest rate to 0.7167%, effective from November 4th.
The Hong Kong Inland Revenue Department announced today that starting from November 4, 2024, the new annual rate for interest on tax reserve certificates will change from the current 0.8000% to 0.7167%, which means that under the new rate, 0.0597 yuan of interest can be earned per 100 yuan per month.
Hong Kong's third-quarter local gross domestic product is estimated to increase by 1.8% year-on-year.
The Census and Statistics Department of the Hong Kong government released the preliminary estimate of the Gross Domestic Product for the third quarter of 2024.
Hong Kong's GDP grew by 1.8% year-on-year in the third quarter, exceeding expectations.
Great Wall News October 31st｜Hong Kong's third quarter GDP annual rate initial value 1.8%, expected 3.1%, previous value 3.30%; quarterly initial value -1.1%, expected 0%, previous value 0.40%.
Singapore's Monetary Authority expects this year's GDP growth to reach the upper limit of 2% to 3%.
In its latest macroeconomic assessment report released by the Monetary Authority of Singapore, the local economy is expected to achieve a GDP growth of 2% to 3% this year, reaching the upper limit. The GDP growth in 2025 is expected to meet expectations, while core inflation this year is projected to be between 2.5% and 3%, dropping to 1.5% to 2.5% next year. The report also indicates that core inflation will continue to ease for the remainder of this year and extend until 2025. The bank expects core inflation to decrease to around 2% by the end of this year and remain at that level in 2025. Both external and internal cost conditions should remain moderate, and government efforts to strengthen subsidies to alleviate the pressure of living costs will also help to suppress inflation.
Monetary Authority of Singapore: It is expected that the GDP growth in 2025 will remain similar to this year's growth rate.
On October 28, Singapore's Monetary Authority of Singapore: It is expected that the GDP growth in 2025 will maintain a similar growth rate to that of 2024, and the recent economic growth momentum is stronger than expected. Downside risks in 2025 include geopolitical and trade tensions, as well as adjustments in the AI-led recovery.
Hong Kong Inflation Cools in September