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China's fiscal deficit follows Evergrande, power crunch as next worry

Beijing's budget shortfall set to double to over $150 billion in 2025

China's baby-boom generation is set to begin hitting the statutory retirement age next year.   © Reuters

BEIJING -- Already grappling with the twin trouble of the Evergrande crisis and a crippling power shortage, China also faces the long-term problem of a rapidly rising fiscal deficit -- a challenge that could force Beijing to tackle unpopular reform.

China's fiscal deficit is on track to more than double to over $150 billion in 2025, as a slowing rise in tax intake and impending mass retirements among the baby boom generation further weight on government finances.

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