Reported 12 months ago
The Treasury Department announced that with large tax payments coming in, additional debt repayments have been made on top of the set allocation for debt repayment in the 113th fiscal year budget. By the end of June this year, the average national debt per person dropped gradually from a peak of 274,000 Yuan in early May to 258,000 Yuan at the end of June, marking the lowest point since January 19. Measures were taken to repay debts using the surplus tax revenue and prevent further accumulation of debts. As of May, the long-term debt-to-GDP ratio was reported at 26.5%, showcasing the government's efforts in debt management.
Source: YAHOO