Country expected to target larger fiscal deficit in 2013.

By bne IntelliNews January 8, 2013
China is expected to target a larger fiscal deficit this year, as a result of elevated government spending and tax reforms that would contain the growth of state revenues. As reported by Dow Jones Global Equities News, the budget deficit is expected to increase to around 2% of the gross domestic product (GDP) during the period, as compared to the projected 1.5% for last year. The country has also been seeking for a reduction in the gap between the rich and poor, and that indicates higher spending on a wide range of social services during the period.

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