China increases 2013 deficit to 1.2 trillion yuan

Source:Xinhua Published: 2013-3-5 9:56:10

The Chinese government is projecting a fiscal deficit of 1.2 trillion yuan ($191 billion) for 2013, 400 billion more than the budgeted figure last year, according to a government work report to be delivered by Premier Wen Jiabao Tuesday.

The deficit consists of a central government deficit of 850 billion yuan and 350 billion yuan in bonds to be issued on behalf of local governments, the report said.

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Posted in: Politics, Work of Government

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