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VOA-: China to Increase 2016 Financial Deficit

VOA published an article which stated that, based on the financial data that China disclosed, the growth rate of its 2016 GDP will remain between 6.5 and 7 percent and its finance deficit will grow from 1.62 trillion (US$0.25 trillion) in 2015 to 2.18 trillion (US$0.33 trillion) in 2016; its local treasury bonds are expected to be 400 billion yuan (US$61 billion). The article said that the Chinese government admits that its economy will face a bottleneck which it must break through to succeed. It also said that, according to the statistics, the Chinese government plans to allocate 16 billion yuan (US$2.45 billion) to urban medical assistance funds, an increase of 10 percent from 2015. It also claimed that it will increase the low income supplement fund by 5 percent for urban and 8 percent for the rural region.

Source: VOA, March 6, 2016