China's fiscal revenue growth continued to slow in the first quarter, mainly as a result of the country's tempered economic expansion, structural tax reforms and sluggish import growth, the Ministry of Finance (MOF) said Monday.
U.S. lawmakers in the upper house of Congress on Sunday were attempting to strike a last- minute deal to solve the so-called "fiscal cliff", but the fate of the negotiations still remained in doubt.
U.S. Senate Majority Leader Harry Reid on Thursday urged Congress Republicans to come up with a plan that both chambers of the legislature could pass, so as to avert the impending "fiscal cliff."
Growth of the world economy has weakened considerably during this outgoing year and is expected to remain subdued in the coming two years, a UN report said Tuesday.
The combination of tax hikes and spending cuts would pose a " substantial threat" to U.S. economic recovery.
U.S. Federal Reserve chairman Ben Bernanke Tuesday urged the Congress and Obama administration to strike a deal to avert the looming "fiscal cliff", saying the combination of tax hikes and spending cuts would pose a " substantial threat" to the country's economic recovery.
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