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China's economy fails to meet targets

China's economy is facing difficulties and obstacles in meeting its yearly budget targets, Lou Jiwei, the finance minister, reported on People's Daily newspaper earlier today.

China's fiscal revenues rise 8.3%

The nation's fiscal revenues for the first five months in 2016 climbed 8.3% and were weaker compared to the 13.6% appreciation in fiscal expenditures.

Lou highlighted further that the current condition does not allow much optimism for a bigger rise in fiscal revenues, but hard work is in place for re-boosting the economy.

Moreover, China's fiscal deficit of gross domestic product climbed from last year's 2.3% to 3%, following the nation's economic slowdown.

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Thursday, 30 Jun, 2016 / 7:38

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/china-s-economy-fails-to-meet-targets

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