February 22, 2017 / 3:53 AM / 6 months ago

Hong Kong 2016/17 surplus of HK$92.8 bln - budget address

HONG KONG, Feb 22 (Reuters) - Hong Kong's provisional budget surplus hit HK$92.8 billion ($11.96 billion) for the 2016/17 financial year, and its economy is expected to expand 2 to 3 percent in 2017 amid more favourable than expected conditions.

Financial secretary Paul Chan also said in his maiden annual budget address on Wednesday that a strong job market and rising wages had bolstered consumer confidence that would feed into the economy, though high property prices continued to be an issue.

Chan recently replaced longstanding financial secretary John Tsang. ($1 = 7.7613 Hong Kong dollars) (Reporting by James Pomfret; Editing by Kim Coghill)

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