China's budget revenues in the first two months of the year increased by 7%

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In the first two months of 2019, China’s budget revenues increased by 7% to 3 trillion 910 billion yuan in annual terms, according to data from the Ministry of Finance. The central government noted an increase in budget revenues by 6.6% to 1 trillion 940 billion yuan. The aggregate income of local government budgets was 1 trillion 970 billion yuan, an increase of 7.4%. Tax revenues amounted to 3.5 trillion yuan. Its growth was at the level of 6.6%. At the same time, a 18.1% reduction was shown by income from the collection of income tax from individuals. The Chinese budget expenditures over two months increased by 14.6% against the same period a year earlier, having reached 3 trillion 330 billion yuan. The largest increase in expenses was observed in transport, environmental protection and energy conservation sphere.

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