China Targets 4% Budget Deficit, Highest on Record, and 5% GDP Growth for 2025, Up from Initial Goal of 3%

Dec 17, 2024, 04:55 AM

China has announced plans to target a budget deficit of 4% of its gross domestic product (GDP) for the year 2025, an increase from the initial goal of 3% set for 2024. Additionally, the country aims for economic growth of around 5% in 2025. This decision reflects China's strategy to address economic challenges and maintain stability amid external pressures. The budget deficit goal for 2025 is reported to be the highest on record. Sources indicate that these targets were agreed upon by Chinese leaders in a recent meeting.