• search

China to trim budget deficit by 1.7 pct in 2006

Written by: Staff

BEIJING, Mar 4 (Reuters) China expects to trim its budget deficit by about 1.7 per cent in 2006 to 295 billion yuan, the government will say on Sunday, further winding back fiscal stimulus that began in 1998.

In a report to be delivered to the National People's Congress, or parliament, Finance Minister Jin Renqing will forecast government revenues of 3.542 trillion yuan, up 12 percent on 2005, according to sources who have seen Jin's draft budget.

Jin expects government spending to reach 3.837 trillion yuan this year, an increase of 13.8 per cent from actual government spending of 3.371 trillion yuan in 2005, they said.

Last year Jin projected a budget deficit of 300 billion yuan, down by 6 per cent from 2004.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more