Global events, including higher energy prices stemming from the Middle East crisis, are likely to exert upward pressure on inflation. However, the Work Report offered limited measures to stimulate domestic demand.

“Economic relaunch” package is designed to cushion the impact of fiscal consolidation and stimulate investment, the government said.

The coordination between the Finance Ministry and the presidency signals tighter executive cohesion under President Prabowo’s leadership, contrasting with the cautious fiscal stance of prior administrations.

China's consumer prices fell for the second straight month in March, stoking deflation fears and prompting calls for more...

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Investing.com-- A top-level Chinese official said on Monday that Beijing planned to dole out even more measures to support the economy, and that he was confident China will achieve the government’s 5% annual growth target. Zhao Chenxin, vice chair of the National Development and Reform Commission, said at a press conference that China will roll out measures to keep its employment and economic performance stable, while also promoting development, local media reports showed. Zhao also expressed confidence in meeting the government’s 5% annual gross domestic product target, stating that China had ample reserves and sufficient headroom to dole out more policy support. China’s deputy central bank governor Zou Lan, speaking at the same conference, said that the People’s Bank will maintain moderately loose policy to foster economic growth, while also keeping the yuan stable. Zou’s comments were preceded by local media reports that predicted more interest rate cuts by the PBOC in the coming months. The central bank had already slashed its benchmark loan prime to record lows in recent years. Monday’s comments follow a general trend of confidence in China’s economy from top-level policymakers, despite the prospect of severe damage from a bitter trade war with the United States. U.S. President Donald Trump imposed tariffs as high as 240% on Chinese goods earlier in April, sparking retaliatory tariffs of up to 120% from Beijing. The tariff exchange has further sullied China’s economic outlook, given that the country was already struggling with slowing growth in recent years.

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