$136b fiscal deficit seen for 2011
- Source: Global Times
- [08:24 March 07 2011]
- Comments
The government is projecting a 900 billion yuan ($136.4 billion) fiscal deficit, or 2 percent of GDP in 2011, Premier Wen Jiabao said while delivering a government work report at the parliament's annual session Saturday.
The deficit is 150 billion yuan ($22.84 billion) less than last year. Of the deficit, 700 billion yuan ($106.59 billion) will be for the central government and 200 billion yuan ($30.46 billion) for the local government through issuing bonds, Wen told nearly 3,000 deputies of the National People's Congress (NPC). The construction of government buildings should be strictly controlled. Spending on officials' overseas trips, government vehicle purchase and reception activities should not be increased in order to lower administrative costs, Wen said.
Xinhua
