Thursday, July 31, 2014   

(NPC) Finance Minister Lou settles for flexible growth number
(03-06 12:36)

Finance Minister Lou Jiwei suggested that a growth rate of “7.2 percent or 7.3 percent'' would be acceptable, a day after the premier announced a 2014 target of “around 7.5 percent.’’
At the opening yesterday of the National People's Congress, the legislature, Premier Li Keqiang announced a target of “around 7.5 percent'' for gross domestic product growth this year, the same as in 2013.
But Lou Jiwei emphasized that it, along with other forecasts such as for inflation, were “rough'' estimates qualified by the word “around,’’ and said a lower figure would not be a problem for the government as long as jobs growth was strong.
“For example, if this year's actual growth is 7.2 percent or 7.3 percent, it's still around 7.5 percent,'' Lou said, adding that job creation was the “most important'' of the targets.
“Therefore where GDP growth is on which side of 7.5 percent and how big the margin is not that important,'' he said.
“What is important is employment.''
   
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