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Most of the World in Budget Deficits But China Could Be Heading for First Balanced Budget Since 1985

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While most nations globally continue to run budget deficits with huge government borrowing in China,  it’s  budget will likely be in or near balance for the first time in roughly four decades, a sign of tight fiscal policy during the year despite a slowing economy, according to a study from the East Asian Institute. 

Government revenue and expenditure in the first seven months of the year were nearly perfectly balanced, and if the trend continues, it’ll mark the first time since 1985 that’s happened, Christine Wong, a visiting research professor at the EAI at the National University of Singapore, wrote in a paper.

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