Fiscal revenues up in July, annual target 'tough'

Growth in fiscal revenue at all levels of government continued rising in July, but realizing the full-year target will be an arduous task amid an economic slowdown and pending tax cuts, the Ministry of Finance said on Tuesday.

Last month, revenue of governments at all levels was 1.18 trillion yuan ($193 billion), up 11 percent year-on-year, according to a statement on the website of the Ministry of Finance.

Cumulative fiscal revenue for the first seven months of 2013 expanded 8 percent, accelerating from 7.5 percent growth in the first six months, to 8.04 trillion yuan.