Public Allowed to See Government Detailed Budget on Spending
China has released its detailed budget in years, thus allowing the public to look into how the central government is spending its money. Based on several sheets released by the Ministry of Finance, the central government is expecting to get 7.06 trillion yuan this year or up 3 percent compared with the budgeted 7 percent growth in revenue last year.
Central government spending is said to be around 8.59 trillion yuan or up 6.3 percent compared to the 9.5 percent budgeted growth of last year. The central government is released its outlays in general administrative spending in hopes to cope up with the mounting pressure in spending and revenues. Beijing is planning zero growth in expenditure on public reception, car purchases and overseas visit.
Operational and administrative spending in most government departments will be reduced while spending in other areas will be reduced as well or will see a slower growth. Communications, culture and sports expenditure saw a drop of 4.8 percent and spending on energy saving and environmental protection is cut by 22.7 percent. Social security and employment expenditure increased by 22.8 percent while healthcare surged by 47.2percent.