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China's fiscal spending growth slows in July even as revenues rise

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China's fiscal spending growth slows in July even as revenues rise

China's fiscal spending rose 5.4% year over year in July while revenue increased 11.1%, Reuters reported Aug. 11, citing data from the Ministry of Finance.

July's spending growth was down from 19.1% in June, although revenue growth was up from 8.9% in June.

Explaining the slower growth in July, the ministry said Beijing had front-loaded its spending in the first half of the year.

Government spending in the first seven months of the year was up 14.5% from a year earlier, while revenues increased 10%.