Kavan Choksi Professional Investor Discusses the Expectations for the Economy of China in 2024
For full-year 2023, real GDP in China grew 5.2% year-over-year. This was modestly higher than the official growth target of “around 5%,” while nominal GDP growth moderated on deeper deflation pressure. As Kavan Choksi Professional Investor mentions, in 2024, the growth target in China is likely to stay unchanged at around 5% and growth-friendly policy may continue. However, large scale stimulus is not likely. Kavan Choksi Professional Investor talks about what one may expect from China’s economy in 2024 As per baseline assumptions, China’s official fiscal deficit may increase to 4.2% of GDP, while the aggregate fiscal deficit in the fiscal budget may go up from 6.4% of GDP in 2023 to 6.9% in 2024. On the other hand, the augmented fiscal deficit is likely to be marginally higher at 12.2
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