V Medium-Term Fiscal Challenges
Author:
Ms. Annalisa Fedelino
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Mr. Raju J Singh
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Language:
English
Print Publication Date:
17 Jun 2004
Keywords:
OP; China; exchange rate; inflation; equity stake; state equity share; nonfinancial SOEs; State equity share; revenue increase; Fiscal stance; Pension spending; Stock markets; Asia and Pacific

Abstract

China’s current fiscal position appears relatively sound. Both its overall budget deficit (3 percent of GDP in 2003) and debt as a ratio to GDP (about 26 percent in 2003) compare well with those of a group of emerging market countries, although differences in coverage and data quality need to be taken into account when comparing data across countries (Table 5.1).1 While China’s primary fiscal position may appear weaker than in comparator countries, strong economic growth and low domestic interest rates have so far partially counteracted the possible adverse impact of sustained primary deficits on debt dynamics.

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Cover China's Growth and Integration into the World Economy
China's Growth and Integration into the World Economy
Prospects and Challenges
ISBN:
9781589062580
ISSN:
0251-6365
Publication Date:
17 Jun 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589062580.084
Pages:
75

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