Wider fiscal deficit to bolster economy, counter slowdown

Analysts warn that government spending may fall short amid growth concerns

The nation aims to run a larger budget deficit this year to counteract the economic slowdown, but some analysts question whether the increase in spending is adequate.

In his annual work report to the National People's Congress on Thursday, Premier Li Keqiang targeted a 1.62 trillion yuan ($258 billion) budget deficit, 270 billion yuan wider than last year's. This year's figure represents 2.3 percent of the nation's GDP, up from 2.1 percent last year.