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China says economy is worse now than during pandemic

NNA - China’s Premier Li Keqiang gave his starkest warning yet about the economy as it comes under severe strain from Covid outbreaks and lockdowns, suggesting the government’s growth target is moving further out of reach.

Li held an emergency meeting on Wednesday with thousands of representatives from local governments, state-owned companies and financial firms, calling on them to do more to stabilize growth. He said the economy is in some respects faring worse than in 2020 when the pandemic first emerged and urged more efforts to reduce a soaring unemployment rate. 

Li’s warnings add to expectations that Beijing may admit to missing its gross domestic product target by a large margin this year as it keeps its focus on controlling Covid-19 infections through stringent controls. Economists surveyed by Bloomberg forecast the economy will grow 4.5% this year, well below the government’s target of about 5.5%.—Bloomberg 

 

 

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تابعوا أخبار الوكالة الوطنية للاعلام عبر أثير إذاعة لبنان على الموجات 98.5 و98.1 و96.2 FM

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