The federal government’s budget deficit during the period from April to October this year amounted to 15.1 billion. In October alone, it reached 7 billion, while for the same seven months last year, the deficit was 200 million.
The Federal Ministry of Finance stated in its monthly fiscal monitoring that the budget deficit of the federal government from April to October this year was 15.1 billion yuan, with October alone reaching 7 billion. In comparison, the deficit from April to October last year was 200 million.
During this period, government revenue increased by 3 billion, reflecting a 1.2% increase, mainly due to higher interest income and other non-tax revenue.
With expenditures increasing in all major categories, excluding net actuarial losses, project expenditures increased by 11.8 billion, which is a 5.4% increase compared to the same period last year.
Public debt expenses increased by 7.5 billion, a 38.1% rise, primarily due to higher interest rates, although partially offset by the downward adjustment in the consumer price index for bonds actually repaid.
Net actuarial losses decreased by 1.3 billion compared to the same period last year, a 23.2% decrease.
Given the circumstances, the CEBA loan probably won’t be delayed any further.