Business / Economy

Fiscal revenues, expenditure exceed budget in 2011

(Xinhua) Updated: 2012-06-27 11:27

BEIJING - China's central government collected more fiscal revenue and spent more than budgeted in 2011, Finance Minister Xie Xuren said Wednesday.

In a final report on the implementation of the 2011 budget to the ongoing session of the Standing Committee of the National People's Congress, Xie said the central government's fiscal revenues for 2011 reached 5.13 trillion yuan ($814.7 billion), 11.9 percent above the budgeted level.

Meanwhile, the central government spent 5.64 trillion yuan last year, or 3.8 percent more than budgeted, resulting in a fiscal deficit of 650 billion yuan, which was 50 billion yuan less than budgeted, according to the minister.

The national debts outstanding in treasury stood at 7.2 trillion yuan at the end of last year, Xie said.

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