The Strategist

Analysts: China's budget deficit 2022 will be 2.8% of GDP



03/07/2022 - 03:26



China's budget deficit in 2022 will be 2.8% of GDP, according to the country's economic and social development plan released on Saturday.



Tomas Roggero
Tomas Roggero
"In 2022, the fiscal deficit as a proportion of GDP is planned at around 2.8 per cent, slightly lower than last year's figure," the document said.
 
China's GDP growth rate in 2022 will be around 5.5 per cent, according to the country's socio-economic development plan released on Saturday.
 
"China's GDP growth will be around 5.5 per cent," the document reads.
 
China's GDP growth rate for 2021, despite multiple localised outbreaks of coronavirus infection, real estate market problems and the energy crisis, rose 8.1 per cent from 2020. GDP was 114.36 trillion yuan ($17.9 trillion).
 
Authorities had expected the country's GDP growth rate in 2021 to be more than 6 per cent. Experts forecasted a year-end growth rate of around 8%.
 
China's 2020 GDP growth rate slowed to an annual rate of 2.2% due to the coronavirus pandemic, the lowest in 40 years. The country's total GDP for 2020 was 101.356 trillion yuan ($15.9 trillion).
 
China's registered unemployment rate in 2022 will be no more than 5.5 per cent, according to the country's socio-economic development plan released on Saturday.
 
source: reuters.com




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