Economic slowdown crimps tax collections, key sources of funds for governments

Fiscal revenue growth decelerated at a quicker-than-expected pace during the first two months of this year, adding to China's economic woes.

Fiscal revenue rose 3.2 percent to 2.57 trillion yuan ($407.94 billion) in the first two months of the year, data released by the Ministry of Finance showed on Monday. Income at the central government level dropped by 1.7 percent.