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China’s local government debt has continued to rise in Q1 2023. At the end of April, the debt level is closer to the ceiling set by the central government for 2023 than in the previous two years. Local governments are likely faced with a tightening budget and limited fiscal flexibility created by debt burden and debt ceiling restrictions.
By Experts Table.Briefings
After heatwaves and massive power outages in the past two years, China is about to experience another extreme summer. This does not bode well for the already slow economy.
By Jörn Petring