China Cuts April Government Spending 7.3% as Fiscal Revenue Rises 2%

1 articles · Updated · Bloomberg · May 20

April government spending in China fell 7.3% from a year earlier, a much steeper drop than March’s 2.5% decline and the sharpest contraction since October.
That pullback added to an unexpected, broad-based economic slowdown, making fiscal policy a drag rather than a buffer for growth.
Finance Ministry data released Wednesday showed a contrast in the public accounts: broad fiscal revenue still rose 2% even as expenditure shrank.
The figures suggest Beijing was slower to deploy government outlays in April, a key risk for an economy already losing momentum across the board.

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