Positive Fiscal Policy Continues To Work To Improve Budget Performance In The First Quarter

In the first quarter of this year, the general public budget expenditure was relatively fast, and it was a positive fiscal policy.

As a result of sustained efforts and accelerated budget implementation, revenues and expenditures are completely normal and will not exceed the deficit rate of 3%.

It can be said that through a series of measures to increase the implementation of the budget, on the one hand, it reflects the continuity and stability of the proactive fiscal policy. On the other hand, it can avoid the phenomenon of spending money at the end of the year and improve the performance of budget execution.

Recently, the Ministry of Finance announced statistical data. In the first quarter of this year, the national general public budget revenue was 44366 billion yuan, the expenditure was 45917 billion yuan, and the expenditure was more than 155 billion 100 million yuan.

In view of this, some believe that this is rare in the first quarter of the year.

The deficit is even expected to exceed 3% of our actual deficit this year.

So, how do we view the phenomenon that fiscal expenditure exceeds revenue in the first quarter?

The fiscal deficit is a part of the fiscal expenditure exceeding the fiscal revenue. The deficit rate is the proportional relationship between the fiscal deficit and the GDP of the same period.

"According to the common practice of countries, the deficit and deficit rate is originally the concept of the year. It is unscientific to examine the fiscal deficit in one quarter."

Bai Jingming, vice president of the Chinese Academy of fiscal Sciences, said.

According to the budget report adopted by the National People's Congress, China's deficit rate has been set at 3% this year, with a deficit of 2 trillion and 380 billion yuan, an increase of 200 billion yuan over last year.

Among them, the central budget deficit is 1 trillion and 550 billion yuan and the local fiscal deficit is 830 billion yuan.

"Fiscal deficits, since they are annual concepts, can be distributed in all quarters, and they do not necessarily have to be evenly distributed.

From the first quarter of this year, expenditure is greater than income about 100000000000 yuan, the gap is not big, income and expenditure are completely normal.

Bai Jingming said that the expenditure was faster in the first quarter of this year, which was the result of more active fiscal policy and faster budget implementation.

At the same time, in recent years, China has constantly deepened the reform of the budget management system, improved the pfer payment system, increased the fiscal expenditure optimization and integration efforts, and managed to revitalize the fiscal stock fund. All these measures have promoted the implementation of the budget.

Bai Jingming stressed that through a series of measures to increase the implementation of the budget, on the one hand, it reflects the continuity and stability of the proactive fiscal policy. On the other hand, it can avoid the phenomenon that expenditure is concentrated in the second half of the year, or even at the end of the year, so as to improve the performance of budget execution.

"It is worth noting that although the annual draft budget is reviewed and approved by the National People's Congress in March, it does not mean that no expenditure can be made until then."

Bai Jingming said.

According to the budgetary law, the budgetary draft at various levels can be arranged before the budget year begins, before the approval of the people's Congress at the corresponding level, the following expenditures can be arranged: the carrying over expenditure in the previous year; the basic expenditure, the expenditure for the item, and the pfer expenses to the lower level government must be allocated according to the amount of the budgetary expenditure in the same period last year; the expenditure stipulated by the law must be fulfilled, and the expenses for handling emergencies such as natural disasters.

In the budget report this year, Xiao Jie, Minister of finance, explained that according to the above provisions, the central general public budget in January 2017 was 984 billion 500 million yuan.

Among them, the central level expenditure is 165 billion 700 million yuan, and the local tax refund and pfer payment is 818 billion 800 million yuan.

The 2016 budget report shows that in January 2016, the central general public budget expenditure was 838 billion 700 million yuan.

Among them, the central level expenditure is 153 billion 700 million yuan, and the local tax refund and pfer payment is 685 billion yuan.

This shows that since January this year, the expenditure has been increased according to the relevant provisions of the budget law and the requirements of the proactive fiscal policy.

After the National People's Congress approved the draft budget, the Ministry of Finance accelerated the budget approval.

At a news conference held recently by the Ministry of finance, Li Jinghui, director of the budget department of the Ministry of finance, answered questions from the Economic Daily China economic network.

The progress of the approval has been further accelerated than in previous years.

Up to now, the central general public budget has totaled more than 80%.

It is reported that in 2017, the central government budget was approved in March 24th, which is one week ahead of the previous year. In 2017, the central government's budget for local pfer payments has reached 75%, which is 3 percentage points higher than that of last year. In 2017, the new local government debt limit of 1 trillion and 630 billion yuan has been issued, including the general debt limit of 830 billion yuan and the special debt limit of 800 billion yuan.

"The funds that have not yet been budgeted for the budget are mainly the central local pfer payment funds that need to be adjusted and improved by the real settlement projects or policies, and the Ministry of finance will release them as soon as possible according to the actual situation.

Next, we will urge the central and local financial departments to speed up the implementation of the budget and strive to improve the efficiency of the use of financial funds.

Li Jinghui said.

China has set the deficit rate to 3% this year. Xiao Jie said at a press conference during the two sessions that it was positive and sound.

Does the current increase in expenditure mean that this year may break through the established deficit rate? "Increasing expenditure is a reflection of strengthening budget implementation, and does not mean breaking the budget deficit rate.

The deficit rate is approved by the National People's Congress. It is legal and can not be changed at will. "

Bai Jingming said.

For this year's deficit rate, Gao Peiyong, director of the Institute of Economic Research of the Chinese Academy of Social Sciences, also held that at the annual meeting of the Chinese Finance Association, considering the steady progress and the steady expectation of the Chinese people on the economic situation of China, China is still arranging the deficit rate of 3% this year, which is a very good orientation.

"3% is a very clear signal, based on the consideration of supply side structural reform."

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