{"id":1545360,"date":"2022-07-09T05:34:50","date_gmt":"2022-07-09T09:34:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1545360"},"modified":"2022-07-09T05:35:00","modified_gmt":"2022-07-09T09:35:00","slug":"china-can-consider-increasing-its-budget-deficits-ex-finance-minister","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-can-consider-increasing-its-budget-deficits-ex-finance-minister\/","title":{"rendered":"China can consider increasing its budget deficits \u2013 ex-finance minister"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-can-consider-increasing-its-budget-deficits-ex-finance-minister%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1545360&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BEIJING (Reuters) \u2013     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.  <\/p>\n<p>To spur consumption, some local governments have issued consumption vouchers, but those steps remain inadequate due to a serious decline in fiscal revenue at all levels, Lou Jiwei told the Caixin Summer Summit in Beijing. <\/p>\n<p>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% will be hard to achieve. <\/p>\n<p>This year, much of the support for the world\u2019s second-biggest economy has come from fiscal stimulus to counter the impact from COVID-19. <\/p>\n<p>The cabinet has told local governments to ensure 3.45 trillion yuan ($515 billion) in special bond issuance for infrastructure \u2013 part of the 2022 special bond quota of 3.65 trillion yuan \u2013 is completed by the end of June. <\/p>\n<p>China will front-load some planned 2023 bond issuance in the fourth quarter of this year, with the new quota likely bigger than 1.46 trillion yuan for 2022, sources have told Reuters.<\/p>\n<p>There is still some room for the central government to disburse funds, said Lou, who is now at a top political advisory body. <\/p>\n<p>\u201cWhen necessary, we can increase the central and local budget deficits,\u201d he said.<\/p>\n<p>($1 = 6.6945 Chinese yuan renminbi)<\/p>\n<p> (Reporting by Ryan Woo and Tina Qiao; Editing by William Mallard)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/china-can-consider-increasing\/file-photo-illustration-photo-of-a-china-yuan-note\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI68040-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI68040-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING (Reuters) \u2013 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.<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1545360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1545360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1545360"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1545360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1545360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1545360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1545360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}