Shanxi spends 511.1b yuan on development in 2020


Updated: 2021-01-14

General public budget expenditures in North China's Shanxi province reached 511.1 billion yuan ($76.7 billion) in 2020, representing a year-on-year growth of 8.4 percent, according to a provincial government financial conference on Jan 13.

The government's general public budget revenue dropped to 229.65 billion yuan. The reduction in revenue from 2020 can be partly explained by cuts made in taxes and fees in the past year worth more than 33 billion yuan.

The local government spent 5.67 billion yuan in fighting COVID-19. Fiscal support also went toward poverty alleviation, improving the environment, technological innovation, higher education, employment, vocational training and medical care.