China’s budget growth has slowed down

Almaty. August 11. Silkroadnews – China’s budget expenditures growth has slowed down, the MarketWatch news portal reported.
“The rise in China’s fiscal spending slowed in July after strong growth in the first half of the year, while the government reported a rise in fiscal revenue, according to official data released on Friday”, the publication said.
Data by China’s Ministry of Finance show in July the Chinese government spent 1.35 trillion yuan ($202.7 billion), which is 5.4% more than a year earlier.
According to the ministry, in the first seven months of the year budget expenditures grew 14.5% compared to the same period of last year. At the same time, fiscal revenue raised 11.1% (1.6 trillion yuan) in July compared to the same period of last year due to strong growth in land sales. In January-July, China’s fiscal revenue increased by 10%.
It is reported that the Chinese government earned 2,344 trillion yuan in the first seven months, which is 37.3% higher compared to last year.