Covid-19 impact: China projects deficit-to-GDP ratio at over 3.6% in 2020

China has decided not to set goals on the GDP growth in 2020 amid the Covid-19 pandemic, Government Work Report as stated by The Global Times

China has projected deficit-to-GDP ratio at more than 3.6 per cent in 2020, said a government report on Friday.

"China's deficit-to-GDP ratio this year is projected at more than 3.6 per cent, 0.8 percentage points higher than that of last year," according to the Government Work Report as stated by The Global Times.

The deficit increase is projected at 1 trillion yuan over last year's 2.76 trillion yuan, according to the report delivered by Premier of the State Council Li Keqiang at the opening of the third session of the 13th National People's Congress on Friday.

China has decided not