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Budget posted on Web

THE Ministry of Finance posted the central fiscal budget for 2009 on its Website yesterday, a week after it was approved by the national legislature.

It is the first time accounts revealing details of annual central fiscal budget have been published, including central fiscal income and spending, tax revenues and government transfer payment.

The accounts show sources and allocations of income and expenditure, with spending details of projects to improve living standards, such as old-age pensions and employment subsidies, MOF spokesman Hu Jinglin said.

"The release of the fiscal data online will help strengthen public supervision of government work and prevent corruption," Hu said.

At present, monthly data of governmental income and expenditure is available on the ministry's Website. The MOF has been updating the information every month since the second half of 2008.

The MOF has stepped up efforts to publish more timely and clearer financial information via the Internet since a regulation encouraging open government was issued by the State Council, or Cabinet, in May.

In 2008, the MOF released fiscal accounts of central income and expenditure from 2003 to 2007 online.


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