China's economy fails to meet targets

Thursday, 30/06/2016 | 07:38 GMT-0

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

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