Financial Secretary Paul Chan on Sunday said he expects Hong Kong's economy to gradually pick up, and the business environment to improve this year.

Writing on his official blog, Chan said the complex geopolitical situation and high interest rates slowed down post-Covid economic growth last year, but the support of the country and connectivity to the rest of the world remain Hong Kong's biggest strengths in building its economy.

The finance chief said the beige-coloured cover of the budget reflects his expectation that the economy will go up.

He also thanked people for putting forward suggestions for the budget, which will be announced on Wednesday.

"Thank you all for giving us a lot of valuable advice during the budget consultation period, allowing us to better understand what everyone is most concerned about at the moment," he wrote.

"In the face of fiscal deficit, we hope to be more focused and more effective when using limited public resources."