|
Fiscal revenue totaled 13.9 trillion yuan ($1.92 trillion) from
January-July, while fiscal expenditure grew 3.3% to 15.2
trillion yuan ($2.10 trillion), the finance ministry said in a
statement on Monday.
In July, fiscal revenue rose 1.9% year on year, slowing from a
5.6% increase in June. Fiscal expenditure fell 0.8% in the same
period, narrowing from a 2.5% decline a month earlier, according
to Reuters calculations based on the ministry's data.
The world's second-largest economy grew at a sluggish pace in
the second quarter amid weak demand both at home and abroad,
prompting top leaders to promise further policy support and
analysts to downgrade their growth forecasts for the year.
China's consumer sector fell into deflation in July, with
analysts expecting price stagnation to persist for the next six
to 12 months.
(Reporting by Joe Cash and Liangping Gao; Editing by Jacqueline
Wong & Simon Cameron-Moore)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
