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The Housing Authority projects a decreasing surplus in the coming financial year, manily due to the increase in public housing construction and downfall in investment returns.
The Authority expects to generate an overall budget surplus of 3.7 billion HK dollars for the upcoming fiscal year, 35 percent lower than the current year ends on March 31.
Its surplus is projected to drop even further, to HK$960 million in three years' time, mainly due to a worsening deficit from the public rental housing account.
The authority says the rental housing account deficit in the next financial year is expected to hit HK$1.7 billion, more than double the deficit for the current fiscal year.
It says the deficit could hit a 10-year high in the coming fiscal year if it decides to keep rents unchanged.
