CCP’s Budget Deficit Reaches Nearly $1 Trillion

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CCP's Budget Deficit Reaches Nearly $1 Trillion

The Chinese Communist Party (CCP) regime’s fiscal balance for the first three quarters of 2022 shows that revenue for the country’s general public budget fell by 6.6 percent year-on-year, while revenue for the government funding budget fell 24.8 percent year-on-year, although corresponding expenditure increased significantly.
The Chinese Ministry of Finance announced the figures on Oct. 25. Cumulative public budget revenues amounted to 15.315 trillion yuan (about $2.11 trillion), a decrease of 6.6 percent year-on-year; while expenditures for the same period amounted to 19.039 trillion yuan (about $2.62 trillion), an increase of 6.2 percent year-on-year. The budget shortfall was 3.724 trillion yuan (about $510 billion).
For government funds, estimated revenue was 4.59 trillion yuan (about $629 billion), down 24.8 percent year-over-year; while the estimated expenditure was 9.03 trillion yuan (about $1.24 trillion), up 12.5 percent year-over-year. Government funds in China are money collected from citizens, legal persons, and other organizations by the CCP for a specific purpose with no compensation—mainly for infrastructure and public utilities. Government funds are the second largest source of revenue for the Chinese regime after taxes....

Source: CCP's Budget Deficit Reaches Nearly $1 Trillion

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