HomeNewsWorldGrowth in China fiscal spending slows in April, revenues up

Growth in China fiscal spending slows in April, revenues up

The government has pledged to ramp up fiscal support this year, boosting the fiscal deficit to 3 percent of gross domestic product (GDP), after economic growth last year cooled to a 25-year low.

May 13, 2016 / 12:43 IST
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China's fiscal expenditures rose 4.5 percent in April from a year earlier, slowing sharply from a 20.1 percent jump in March, data from the Finance Ministry showed on Friday,

The government has pledged to ramp up fiscal support this year, boosting the fiscal deficit to 3 percent of gross domestic product (GDP), after economic growth last year cooled to a 25-year low.

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Fiscal revenues climbed 14.4 percent in April from a year earlier, quickening from March's 7.1 percent rise.

April business tax receipts jumped 74.8 percent from a year earlier, as local governments rushed to clear up business tax arrears.