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Government work report: this year’s GDP will grow more than 6%
》》》 2021 Two Session Special Report: Bravely Start a New Game
Original caption: My country’s deficit rate is expected to fall to about 3.2% in 2021, and direct fiscal connections will normalize
Xinhua News Agency, Beijing, March 5 (Reporters Shen Cheng and Wang Yuxiao) The deficit rate has been reduced compared to last year, and special national debts will no longer be issued for the fight against the epidemic. A standardized direct fiscal fund mechanism will be established and the scope expanded … The government work report reviewed at the Fourth Session of the National People’s Congress revealed a number of fiscal policy arrangements this year, showing that the policies Proactive fiscal practices have improved quality and efficiency and are more sustainable.
According to the government’s work report, this year’s deficit rate is expected to be around 3.2%, lower than last year. The budget report submitted for review on the same day noted that my country’s deficit this year was 3.57 trillion yuan, a decrease of 190 billion yuan from last year. This arrangement not only embodies the positive stance of fiscal policy, but also sends a clear signal that my country will not engage in a strong “flood”-style stimulus, promote high-quality development, and leave room for policies for new risks and challenges in the future.
“As my country’s economic operation gradually returns to normal this year, the pressure on fiscal hedging risks has eased and the conditions to adequately reduce the deficit rate are in place,” said Liu Shangxi, a member of the Committee. National Political Consultation of the Chinese People. Conference and President of the Chinese Academy of Fiscal Sciences.
In 2020, in response to the impact of the epidemic, my country issued a special national debt of 1 trillion yuan to combat the epidemic. According to the government’s work report, this year no special national debts will be issued.
“This arrangement is in keeping with the current record of effective control of the national epidemic and stable economic recovery.” Dai Yunlong, a deputy of the National People’s Congress and director of the Guangdong Province Finance Department, said that the fight against the epidemic and other extraordinary expenses will be greatly reduced and people’s basic livelihoods will be guaranteed. Etc. can be guaranteed through normal spending channels.
At the same time, the government work report noted that due to the growth of the tax revenue recovery, the overall scale of tax spending has increased from last year, and the focus remains to increase support for market entities in occupational safety and people. livelihood insurance market. Establish a standard direct mechanism for fiscal funds and expand the scope, and include 2.8 trillion yuan of core fiscal funds in the direct mechanism, which is significantly larger than last year, and provides more timely and powerful financial support for the benefit of companies and individuals. at the city and county level.
“Monitor the situation and actively make adjustments.” In Liu Shangxi’s view, these “decrease” and “increase” arrangements, on the one hand, maintain the basic stability of active support for fiscal policy and, on the other, are conducive to a good balance between promoting development and risks prevention.
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