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More in China urging for higher budget deficit and deleveraging adjustment

After China's top policymakers warned that China is facing increasing downward pressure and pledged more active fiscal policies including higher spending on infrastructure construction. That leads to a question: is it necessary to raise the budget deficit ratio above 3 per cent of GDP next year after?

Many prominent economists in China have joined the league urging for a rise in budget deficit, believing that China should make its policies based on the economic situation instead of just focusing on cutting debt levels.

Yu Yongding, a prominent economist in China and former advisor to the People's Bank of . . .

 

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