It won’t be enough:
The nation’s legislature approved a plan to raise the fiscal deficit ratio for 2023 to about 3.8% of gross domestic product, the official Xinhua News Agency said Tuesday — well above the 3% set in March which the government has generally considered a limit for the nation.
The plan includes issuing additional sovereign debt worth 1 trillion yuan ($137 billion) in the fourth quarter to support disaster relief and construction.
