Business & Finance
China 2020 fiscal spending up 2.8% y/y, revenues fall 3.9%
- The ratio of 2020 government debt to GDP stood at 45.8%.
BEIJING: China's fiscal revenues fell 3.9% in 2020 from a year earlier, while fiscal expenditures rose 2.8%, the finance ministry said on Thursday, underscoring the difficulties in government finances amid the COVID-19 pandemic.
The ratio of 2020 government debt to GDP stood at 45.8%, the ministry said in a statement on its website, adding that it would maintain a stable macro leverage ratio.
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