China can consider increasing its budget deficits - ex-finance minister

📆 7/9/2022 11:32 AM
📰 ChannelNewsAsia

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BEIJING : China can consider further deficit spending by the central and local governments, if needed, to finance support for small businesses, a former finance minister said on Saturday. To spur consumption, some local governments have issued consumption vouchers, but those steps remain inadequate due t

BEIJING : China can consider further deficit spending by the central and local governments, if needed, to finance support for small businesses, a former finance minister said on Saturday.

China has unveiled a raft of economic support measures in recent weeks, but analysts say its official 2022 economic growth target of around 5.5 per cent will be hard to achieve. The cabinet has told local governments to ensure 3.45 trillion yuan in special bond issuance for infrastructure - part of the 2022 special bond quota of 3.65 trillion yuan - is completed by the end of June.

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