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The picture here is the residential complex built in Hangzhou, China, December 16, 2024.
Nurphoto | Nurphoto | Gets the image
Beijing – China on Wednesday announced plans to increase its financial deficit to “about 4%” of the gross domestic product, which is a rare increase, meaning a meaningful shift in politics.
The purpose was confirmed in the official report of the government for consideration in Parliament on Wednesday.
The new deficit plan, which grew compared to 3% last year, goes amid escalation of the trade war with the Presidential Administration Donald Trump.
A increase of up to 4% of GDP was widely expected. This means the highest financial deficit returned by 2010, according to data that receive information about the wind. The previous maximum was 3.6% in 2020, the data showed.
In October, Chinese Finance Minister Lan Faan said the space is to increase the deficit “pretty big“
China in November announced the support package 10 trillion yuan (1.4 trillion) for five years – primarily for the fight Problems with Local Government debt.
Downing the real estate market in the country declined by a significant source of profit for local authorities, many of which fought in financially Earlier Needed to spend on COVID-19 measures. Meanwhile, generally multiplied calls for multiplied consumption and slow growth More financial incentive.
China is also expected to three times a quota for special sales of sovereign bonds up to 3 trillion yuan ($ 410 billion) this year, from 1 trillion yuan in 2024, and increase the quota of the year on the export of special local authorities to 4.5 trillion from 3,9 trillion. Economist Macquarie.
