July 14, 2014 / 3:16 AM / in 4 years

China's June fiscal spending jumps 26.1 pct y/y

BEIJING, July 14 (Reuters) - China’s fiscal expenditure surged 26.1 percent in June from a year earlier to 1.65 trillion yuan ($265.84 billion), the finance ministry said on Monday, reflecting the government efforts to speed up spending to shore up the economy.

The spending growth accelerated from a rise of 24.6 percent in May.

China’s fiscal revenues rose 8.8 percent in June from a year ago to 1.3 trillion yuan, the ministry said in a statement published on its website, www.mof.gov.cn

The government reports second-quarter gross domestic product on Wednesday. Recent data have offered some signs of stabilisation in the economy as a raft of government stimulus measures kick in, but many economists believe more policy support still may be needed later in the year. ($1 = 6.2067 yuan) (Reporting by Aileen Wang; Editing by Kim Coghill)

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