26th Fiscal Year Income and Expenditures Balanced at $1,000,649,496: Detailed Figures Nanking, June 27. THE Notional Budget for the 26th fiscal year (July 1, 1987-June 30, 1938), balanced at $1,000,649,496, was adopted at the 109th meeting of the Legislative Yuan on Friday.
OMciat quarters here are gratified over the successful balancing of the National Budget.
the course of the past ton years, owing to civil wars requiring huge military appropriations, the National Budget has always shown a deftelt. The biggest deficit was in 1930, being 380 per cent, of the total budget cstimates, Since 1031, the annual defeat has been about 20 per cent, "In 1086, the deficit. amounted to 23 per cent, but, in spite of that, the Rehievements in national reconstruc tion work were unprecedented during that year.
in the course of the past few years, military expenses have been the big est item In the estimates. 'Though the actual amount of military appropriations has been increased, the percentage In relation to the' total expenditure has been reduced.
For instance, in 1930 military expenses occupied 47.65 per cent, of the total expenditure; 42.31 per cent, in 1933; and 30.8 per cent, in 1036, The general budget for the new fiscal year (July 1, 1987-June 30, 1938) totals more than $1,000 millions, This is a new record in China's Ananciat annals. Though the amount of expenditure Is increased, the percent lage of Increase has been reduced.
For instance, the budget for the 24th fiscal Year (July 1995-June 1936) showed an inerense of 43 per cent. over that of the 25rd year and the Dudget of the 25th year (July 1036- June 1997) an increase of 3.3 per cent, over that of the 24th year, The new budget shows an increase of only 14 per cent over that of the current yea. "This is due to the retrenchment policy strictly enforced by the Government,
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