Fiscal Balance in China
China's fiscal deficit was carefully managed from 2013 to 2022. Initially, the government maintained a moderate deficit, supporting economic growth while avoiding excessive debt accumulation. However, in response to the 2020 COVID-19 economic slowdown, China increased its deficit through stimulus measures. By 2022, the focus shifted to cautiously reducing the deficit while maintaining support for economic growth, particularly in areas such as infrastructure and technology development, within the broader context of economic rebalancing.
The fiscal balance in China averaged -3.8% of GDP in the decade to 2022. The fiscal balance in 2022 was -4.7% of GDP. For more fiscal balance information, visit our dedicated page.
China Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for China from 2014 to 2023.
Source: Macrobond.
China Fiscal Balance Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -4.9 | -6.2 | -3.8 | -4.7 | -4.6 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Chinese fiscal balance projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Chinese fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Chinese fiscal balance projections.
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