For the first time, China refused to set goals for GDP growth for 2020, the Premier of the State Council of China Li Keqiang said this at the congress, presenting a report on the work of the government. In the first quarter, GDP fell by 6.8%. China in 2020 intends to “triumph over poverty.”
“It is worth noting that we did not determine specific figures for the annual economic growth rate. This is mainly due to the fact that due to the great uncertainty in the global epidemic and trade and economic situation, some unpredictable factors appeared on the way of development of our country, ”the report says (quote from TASS)
According to the results of 2020, the Chinese authorities expect:
- inflation rate – 3.5%;
- budget deficit – 3.6%;
- unemployment – 5.5%;
- defense budget growth – 6.6% (up to $ 178.8 billion).
The Chinese authorities also want to reduce the tax burden and reduce social security contributions by 2.5 trillion yuan (about $ 353 billion). It is planned to create more than 9 million jobs.
On the opening of two major political sessions in Beijing – in the material of Kommersant, “China has breathed a full congress.”
– .
