03-05-2009, 12:06 PM
<b>China Says 8% Growth Within Reach Using $585 Billion Stimulus</b> <!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The 8 percent growth target compares with the International Monetary Fundâs forecast that the nationâs economy will expand 6.7 percent, the least in almost two decades
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<b>With 20 million rural laborers who previously found jobs in cities now unemployed, and 7.1 million college graduates seeking work, authorities are alert to the danger of social unrest</b>
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The <b>2009 budget deficit was set at 750 billion yuan, widening to a record 950 billion yuan</b> including local-government bonds, as the slowdown cuts revenue and the government keeps spending.
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Fiscal spending will rise 22 percent this year to 7.62 trillion yuan ($1.1 trillion), a smaller increase than last yearâs actual 25.4 percent gain, Wen said
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They are smoking. For 1.5 billion population, it is very low. They are not goint to spend this amount in one year.
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<b>With 20 million rural laborers who previously found jobs in cities now unemployed, and 7.1 million college graduates seeking work, authorities are alert to the danger of social unrest</b>
...
The <b>2009 budget deficit was set at 750 billion yuan, widening to a record 950 billion yuan</b> including local-government bonds, as the slowdown cuts revenue and the government keeps spending.
....
Fiscal spending will rise 22 percent this year to 7.62 trillion yuan ($1.1 trillion), a smaller increase than last yearâs actual 25.4 percent gain, Wen said
<!--QuoteEnd--><!--QuoteEEnd-->
They are smoking. For 1.5 billion population, it is very low. They are not goint to spend this amount in one year.