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Smaller Fiscal Gap Seen In 2012
December 28, 2011, Wednesday
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Print Edition
Print Edition
CHINA will run a smaller fiscal deficit in 2012, according to a domestic media. Fiscal outlays will increase 11 percent to 11.1 trillion yuan (US$1.75 trillion) in 2012, against a revenue rise of 9 percent, according an unnamed finance ministry source cited by the Shanghai Securities Journal.
The figures, which emerged at the conclusion of the national Ministry of Finance Work Meeting on Monday, imply a 2012 fiscal deficit of 800 billion yuan, down 50 billion yuan from the expected 2011 deficit, the paper calculated.
The figures, which emerged at the conclusion of the national Ministry of Finance Work Meeting on Monday, imply a 2012 fiscal deficit of 800 billion yuan, down 50 billion yuan from the expected 2011 deficit, the paper calculated.
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