Inner Mongolia's budget revenue hits $18.48 billion

(chinadaily.com.cn)

Updated: 2016-08-16

Budget revenues of the Inner Mongolia autonomous region hit 122.74 billion yuan ($18.48 billion) in the first seven months of 2016, a year-on-year growth of 6.2 percent.

By July of this year, the total tax revenue of Inner Mongolia reached 81.25 billion yuan, an increase of 4.4 percent of the previous year, and non-tax income was 41.49 billion yuan, around a 10 percent rise compared to same period last year.

According to statistics gathered by the local finance bureau, general budget expenditure was around 242.06 billion yuan by the end of July, a year-on-year increase of 16.4 percent, almost 34.02 billion yuan.

Despite the difficult situation of economy, local fiscal departments have endeavored to adapt the new economic situation, expand the market needs, adhere to the law on wealth management, shield potential finance risks and so on.

Thanks to the measures, local officials have managed to balance the budget, increasing the stability and future prospects of the region.