China announced on Sunday that its military budgetthe second largest in the world after that of USAwill increase 7.2% in 2023, according to a report that will review in the coming days the National People’s Assemblywhich began its annual session this Sunday.
The Asian giant plans to spend 1.5 trillion yuan (225,000 million dollars) for his defense, which continues to be three times lower to the military budget of the North American power.
“The increase in defense spending is necessary to respond to complex security challenges. It is also necessary (for China) to fulfill its obligations” as a great power, he said. Wang Chaospokesperson for the National People’s Assembly.
Premier Li asked in his speech to lawmakers on Sunday “intensify” army training as well as “the combat readiness” and “innovate in terms of strategic orientations”.
Beijing has set itself an economic growth target of “about a 5 %”for this year, according to the government action report read this Sunday by the outgoing prime minister, li keqiangduring the inauguration of the annual session of parliament.
The objective is as expected by analysts and follows the line established last year, of between 5 and 5.5%, although the second world economy finally grew by 3% after the harsh restrictions and confinements that it imposed within the framework of its “zero COVID” policy’ in the face of the worst waves of infections since the beginning of the pandemic.
“This year, it is essential to prioritize economic stability and seek growth while ensuring stability”, urged Li, who recalled that “the foundations of stable growth (still) need to be consolidated”.
The prime minister specifically referred to problems such as “insufficient demand”, “shaky” expectations of investors and private businessesthe “budget imbalances” of some local administrations or the “many hidden risks and dangers” in the battered real estate market.
During the opening of the most important political event of the year in the Asian country, Li also reviewed other economic objectives as a goal of fiscal deficit of 3%which represents an increase compared to the target of 2.8% set in 2022.
Other indicators to which the prime minister referred were the consumer price index (CPI), whose rise the authorities seek to limit to about 3%, or the creation of some 12 million jobs in the areas urban areas to keep the official unemployment rate in those areas below 5.5%.
These economic data were presented at the opening of the nine-day parliamentary session which must certify the re-election of Xi Jinping as president for five more years. In October he was already confirmed in his functions as head of the communist party.
The regime of Xi Jinping It has faced some pitfalls in recent months, such as the demonstrations at the end of November against its “zero COVID” policy and later, a wave of deaths after the abandonment of this criticized public health strategy.
(With information from EFE and AFP)
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Source-www.infobae.com