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China's fiscal decifit under control: Premier

(Xinhua)
Updated: 2009-03-13 12:08

BEIJING -- China's fiscal deficit is still within a controllable range though the country sets a record high fiscal deficit budget of 950 billion yuan ($139 billion) for 2009, Premier Wen Jiabao said today.

"Our efforts to cut down the fiscal deficit in the past few years have provided us room for higher budget this year," Wen said at a press conference after the second session of the 11th National People's Congress closed.

In fact, China has reported a lower deficit-to-GDP ratio these years, from 2.6 percent in 2003 to 0.8 percent in 2008.

 

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