[Ferro-alloys.com]The half-year financial work conference took place in many provinces of China recently. Under overall downturn of macro economy, fiscal revenue growth declined obviously, especially in central and western regions.
According to the Ministry of Finance, fiscal revenue of central government reached RMB 3.2311 trillion (USD 0.5211 trillion) in the first half year of 2013, up 1.5% year-on-year. Meanwhile, fiscal revenue of local government was RMB 3.6280 trillion, up 13.5% year-on-year, 0.9% less last year.
According to recent data, fiscal revenue growth in most provinces of central and western regions declined. Resource-depended provinces were faced with greater difficulty. Fiscal revenue of Shaanxi Province was RMB 23.005 billion, just 46.42% of annual budget. Deputy Director of the Finance Department of Anhui Province disclosed that 2014 would be the most difficult year in finance for Anhui Province.
It was speculated that as fiscal revenue growth declined further while fiscal expenditure increased, financial contradiction would be more serious for China.
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