BEIJING, March 5 (Xinhua) -- China lifts its fiscal deficit target to 2.8 percent of GDP for 2019, up by 0.2 percentage points compared with 2018, says a government work report.

The report was available to the news media Tuesday morning ahead of the annual legislative session.

The budgetary deficit is projected at 2.76 trillion yuan (about 412 billion U.S. dollars), with a central government deficit of 1.83 trillion yuan and a local government deficit of 930 billion yuan, according to the report.