While the annual budget presented at the NPC implies an acceleration in fiscal expenditure this year, early signs are that spending has slowed in Q1, weighing on economic activity. Fiscal spending should pick up again later this year, helping to offset the near-term hit from US tariffs.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services