* Despite the concerns over the mounting government debt risks, China is capable of and has ample room to navigate the economy through challenges. BEIJING, June 6 (Xinhua) -- Chinese local governments' fiscal revenue maintained steady growth in the first four months of this year, backed by su...
China has been keeping its debt level controllable. By the end of 2022, the outstanding local government debt came in at about 35.07 trillion yuan, including 14.4 trillion yuan in general debt and 20.67 trillion yuan in special debt, all within the debt limit approved by the national legislatur...
Prior studies of government audit fees and audit delay (elapsed time from fiscal year end (FYE) to date of the audit report) employ a dichotomous variable to control for seasonality. However, a single variable does not appear to fully capture the effects of seasonality on audit fees or audit...
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Federal, state, and local governments grew substantially during the 20th century. Spending, revenue, and debt increased as the population grew, and the government invested more in infrastructure, education, and social programs. Leading up to the Great Recession that began at the end of 2007, tota...
If a government complies with Golden Rule over a multi-year period, that’s almost always a recipe for good fiscal outcomes. But if politicians allows the burden of spending to climb faster than the productive sector of the economy, that usually creates conditions for budgetary troubles. As you...
NORTH CAROLINA DEPARTMENT OF STATE TREASURER STATE AND LOCAL GOVERNMENT FINANCE DIVISION AND THE LOCAL GOVERNMENT COMMISSION This publication provides comparative cash and investment, fund balance, and tax levy information of county governments for the fiscal year ended June 30, 2008. As in the past,...
The tax recovery is “likely due to the fiscal distress of local governments,” said Xing Zhaopeng, an analyst at Australia & New Zealand Banking Group. “I think they need some money to pay by quarter end” because regional authorities usually pay contractors of government projects then...
According to the PPP project platform, the number and investment in PPP projects initiated by local governments doubled approximately every half year by the end of 2016. The expansion slowed down significantly in late 2017 after the central government issuing the central PPP withdrawal policy. A ...
In particular, the accumulation of debt by local government investment and financing platforms will also have a negative impact on GDE. Local governments have self-selectivity in using fiscal funds to develop the economy. For a long time, they have mainly aimed to increase revenue, so heavy ...