China may set 2011 fis­cal deficit at 900b yuan

The Pak Banker - - Company& -

BEI­JING: China is plan­ning to set its next year's fis­cal deficit at 900 bil­lion yuan ($135 bil­lion), among which 200 bil­lion yuan will be lo­cal bonds, the Cen­tury Weekly re­ported Mon­day, cit­ing peo­ple close to the Min­istry of Fi­nance.

But 2011's fig­ures still need to be ap­proved by the Na­tional Peo­ple's Congress in March. Be­fore that, fac­tors in­clud­ing do­mes­tic prices and ma­jor economies' re­cov­ery speed may in­flu­ence the fi­nal num­bers, the re­port said.

It is pos­si­ble to squeeze the deficit if the US and Euro­pean coun­tries staged a sta­ble re­cov­ery. The Po­lit­i­cal Bureau of the Com­mu­nist Party of China Cen­tral Com­mit­tee an­nounced on Dec 3 that the coun­try will im­ple­ment a proac­tive fis­cal pol­icy and a pru­dent mon­e­tary pol­icy next year. -PB News

KARACHI: Sindh Chief Min­is­ter Syed Qaim Ali Shah, Sindh Food Min­is­ter Mir Nadir Magsi and Chief Sec­re­tary Sindh Ghu­lam Ali Pasha wit­ness­ing sign­ing cer­e­mony of Fi­nan­cial Ad­vi­sory Ser­vice Agree­ment (FASA) with Sindh Food Depart­ment and In­ter­na­tional Fi­nance Cor­po­ra­tion (IFC) at Chief Min­is­ter House. -App

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.