China’s Budget Deficit Nears Record $1 Trillion as Economy Slows

[Hamartia Antidote]

China’s Budget Deficit Nears Record $1 Trillion as Economy Slows

China’s broad fiscal deficit hit an all-time high in the first nine months of the year as Covid outbreaks and a housing market slump continue to erode government income.

www.bloomberg.com

China’s broad fiscal deficit hit an all-time high in the first nine months of the year as Covid outbreaks and a housing market slump continue to erode government income.

The deficit in the budgets for all levels of government was 7.16 trillion yuan ($980 billion), according to Bloomberg calculations based on data released by the Ministry of Finance on Tuesday. That is a record for any comparable period and is almost three times the 2.6 trillion yuan shortfall in January-September last year.

 

[Ajamal]

As expected.

 

[Han Patriot]

China’s Budget Deficit Nears Record $1 Trillion as Economy Slows

China’s broad fiscal deficit hit an all-time high in the first nine months of the year as Covid outbreaks and a housing market slump continue to erode government income.

www.bloomberg.com

China’s broad fiscal deficit hit an all-time high in the first nine months of the year as Covid outbreaks and a housing market slump continue to erode government income.

The deficit in the budgets for all levels of government was 7.16 trillion yuan ($980 billion), according to Bloomberg calculations based on data released by the Ministry of Finance on Tuesday. That is a record for any comparable period and is almost three times the 2.6 trillion yuan shortfall in January-September last year.

And our trade surplus is. Near 1 trillion $. Lol