China's decision to increase its budget deficit ratio to 2.8 percent this y...
BEIJING - China’s decision to increase its budget deficit ratio to 2.8 percent this year from 2.6 percent in 2018 is appropriate for the economy, and leaves room for policymakers to maneuver, Finance Minister Liu Kun said on Thursday.
Global investors are closely watching how forcefully Beijing will support the economy after growth in 2018 slowed to a near 30-year low. A key market focus is how policymakers will balance the need for growth against the threat of a further flare-up in financial risks and debt. The premier also announced the slightly higher target for the budget deficit to GDP ratio and a lower annual economic growth target of 6-6.5 percent, both of which had been widely expected.
“Considering the downward pressure on the economy and the upcoming policy of larger tax and fee cuts, some regions will still face relatively big budgetary pressure this year,” said Liu. “The arrangement on the budget deficit ratio has fully considered factors including fiscal revenue and local government special bonds and leaves more policy room for future macro adjustments,” Liu said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China aims for 2019 GDP growth of 6% to 6.5%BEIJING--Chinese Premier Li Keqiang said Tuesday that the government aims for the economy to grow in a range of 6% to 6.5% in 2019, compared with last year's goal of about 6.5%. China's gross domestic product rose 6.6% from a year earlier in 2018, its slowest pace in nearly three decades. In an annual government report delivered at the opening session of the National People's Congress, Mr.
Read more »
China sets 2019 growth target at 6 percent to 6.5 percentChina announced Tuesday it expects the economy to grow at a slower pace in 2019 than last year, in line with many economists' expectations.
Read more »
Trump says strong US dollar, rate hikes are hurting economyPresident Donald Trump spoke at the Conservative Political Action Conference on Saturday where he discussed a range of topics from interest rate hikes to the 2020 election and The Green New Deal.
Read more »
Oil falls as China trims economic growth target, but OPEC-led cuts supportOil prices fell on Tuesday as China cut its 2019 economic growth target, dimming...
Read more »
China Expects 2019 Economic Growth of 6% to 6.5%In a nod to the continuing trade talks between China and the U.S., this year’s economic blueprint delivered by Premier Li also calls for giving foreign investors greater access to Chinese markets
Read more »
China raises budget deficit to 2.8 percent of GDP: policy reportChina set a 2019 budget deficit target that's higher than last year's ...
Read more »
China sets 2019 economic growth target at 6 to 6.5 percentBEIJING (AP) — China's top economic official announced a robust annual growth target and a 7.5 percent rise in military spending as China opened a legislative session Tuesday that has been...
Read more »
Pompeo: US to make sure China can't blockade South China SeaMANILA, Philippines (AP) — U.S. Secretary of State Mike Pompeo says the United States is committed to ensuring the South China Sea remains open to all kinds of navigation and that 'China does not...
Read more »
7 Best Personal Finance Tips For 2019These are the best personal finance moves for 2019.
Read more »