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China Could Raise Budget Deficit to Top 4 Percent of GDP – PBOC Researcher

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China could in theory raise its budget deficit to more than 4 percent of gross domestic product to help support growth, a senior central bank researcher wrote in a commentary posted late on Wednesday.

China has been expected to run a larger budget deficit this year as leaders turn to government spending to arrest the slowdown in the economy after disappointing returns from a year of monetary policy easing.

“In the near future, it’s possible to raise China’s fiscal deficit rate to 4 percent, or even higher,” Sheng Songcheng, director of the Survey and Statistics Department at the People’s Bank of China (PBOC) wrote on “The Economic Daily” website.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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