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HK may cut economic growth

Hong Kong may cut its 1-3 percent growth forecast for this year because of concerns that the eurozone economy could deteriorate further, Financial Secretary John Tsang said.

"The overall external economy is in very bad condition and is very unlikely to change in the short term," Tsang told the Legislative Council on Monday. He said he expects the city’s inflation rate to continue to fall in the "coming months" as imported food prices from China drop.

(Source: Shanghai Daily )