"Bills" for the first quarter have been published in many places-


financial revenues and expenditures are "rising, and boats are rising",


our reporter Li Hualin

  Recently, various localities have successively announced the first quarter fiscal revenue and expenditure data.

The data shows that fiscal revenues in many places have seen recovery growth, and the scale of revenue has returned to the level before the epidemic.

At the same time, the progress of fiscal expenditure has been accelerated, and key expenditures have been strongly guaranteed.

The balance between revenue and expenditure reflects the continuous and stable recovery of my country's economy and steady improvement in quality and efficiency.

  Stable revenue growth and high quality

  Judging from the data published by various localities, local fiscal revenues grew rapidly in the first quarter, with double-digit growth in most areas, and high growth rates of more than 20% in many places.

  For example, in the first quarter, Zhejiang general public budget revenue was 277.5 billion yuan, a year-on-year increase of 27.5%; Jiangsu general public budget revenue was 277.61 billion yuan, a year-on-year increase of 24.9%; Gansu general public budget revenue was 22.1 billion yuan, a year-on-year increase of 20.4%.

  "The growth of fiscal revenue in the first quarter was mainly due to the continuous economic recovery. Since this year, production and consumption have basically returned to pre-epidemic levels, employment has increased, and consumption has grown rapidly." said He Daixin, head of the Finance Research Office of the Chinese Academy of Social Sciences Institute of Financial Strategy.

  Bai Jingming, a researcher at the Chinese Academy of Fiscal Sciences, said that due to the impact of the epidemic, the fiscal revenue base in the same period last year was low. In the first quarter of this year, my country's economy as a whole continued to improve, which promoted rapid growth in fiscal revenue.

At the same time, the prices of bulk commodities have risen sharply, and the increase in the domestic production price index has expanded, which has led to an increase in fiscal revenue.

  The supporting effect of taxation on fiscal revenue is obvious.

From the perspective of major taxes, value-added tax and corporate income tax have become the main force driving tax growth due to the continuous improvement of corporate production and operation.

For example, in the first quarter of Zhejiang’s general public budget revenue, taxes accounted for 84.9%, of which value-added tax and corporate income tax increased by 44.2% and 16.3% respectively; Jilin value-added tax and corporate income tax increased by 26% and 22.6% respectively.

  “VAT is a tax on goods and services and is directly linked to commodity prices. It is calculated at current prices. The increase in the production price index in the first quarter drove the increase in related taxes.” Bai Jingming said that the rapid growth of tax revenue in high-tech industries indicates that the industry The structural adjustment has entered a harvest period, the market share continues to increase, and taxes increase accordingly.

 Maintain pressure and increase efficiency

  From the perspective of expenditure, expenditures in various regions in the first quarter showed a steady growth trend, and the expenditure progress was relatively fast.

  In the first quarter, Hunan's general public budget expenditure was 209.393 billion yuan, a year-on-year increase of 9.22%; Chongqing's general public budget expenditure was 112.4 billion yuan, a year-on-year increase of 12.7%.

  “Affected by the epidemic, the financial support in the first quarter of last year was fast and intense. With the normalization of epidemic prevention and control, relevant expenditures this year have returned to the normal track and the structure has continued to be optimized.” He Daixin said.

  While maintaining a reasonable expenditure intensity, all localities must maintain a certain pressure and focus on key points.

In the first quarter, Jiangxi's education expenditure was 29.16 billion yuan, science and technology expenditure was 5.03 billion yuan, and social security and employment expenditures were 30.31 billion yuan, an increase of 7.4%, 76.2%, and 17.1% respectively.

Zhejiang's expenditures on education, social security and employment, health, energy conservation and environmental protection account for nearly 70% of the general public budget expenditures.

  He Daixin said that most of the direct fiscal funds have been issued in the first quarter, which has accelerated the progress of expenditures in various places. The people's livelihood and welfare expenditures continue to be in the forefront of growth, and the expenditures in key areas are effectively guaranteed.

  This year's fiscal budget report requires the government to stay tight and further reduce general expenditures.

The Guangxi Zhuang Autonomous Region's departmental budget for the "Three Publics", conference fees, and training fees at the beginning of 2021 will be reduced by 5%, and the amount will be reduced by 43 million yuan.

The person in charge of the Shandong Provincial Department of Finance said that in the first quarter, Shandong provincial general public service expenditure fell by 21.6%, and the funds vacated were mainly used in key areas such as people's livelihood.

  Still need to resolve the contradiction between revenue and expenditure

  Although local fiscal revenues showed a recovery growth in the first quarter, due to factors such as economic downward pressure, normalization of epidemic prevention and control, tax cuts and fee reductions, the contradictions between local fiscal revenues and expenditures remained prominent.

  "Challenges come from many aspects." He Daixin analyzed that for some time to come, local fiscal revenue and expenditure pressure will coexist. It is necessary to maintain a good income situation in the first quarter and ensure that the intensity of expenditure does not weaken.

At the same time, local government debt pressure still exists. Under the trend of slowing income growth, pressure on the cost of debt funds, especially interest pressure, will appear.

In addition, the implementation of fiscal investment projects is facing inflationary pressure, and the current budget of fiscal investment projects does not match the current price increases of some materials.

  Facing the contradiction between local fiscal revenue and expenditure, the central government made a series of deployments as early as possible.

The "Government Work Report" stated that this year's central government expenditures to local general transfer payments increased by 7.8%, which was significantly higher than last year.

At the same time, it is required to establish a normalized direct fiscal fund and expand the scope, including 2.8 trillion yuan of central fiscal funds into the direct mechanism, an increase of 1.1 trillion yuan over last year.

  The local government has also actively taken measures and carried out a series of explorations in dealing with the contradiction between income and expenditure.

For example, Shandong resolutely implemented the normalized direct fiscal fund mechanism in place. As of the end of March, all direct fiscal funds allocated to Shandong from the central government had been allocated and issued, and the overall expenditure progress reached 40.1%.

  "Next, local fiscal operations may have low-to-medium income growth." Bai Jingming said that all localities must make plans to resolve the contradiction between fiscal revenue and expenditure, deepen budget management, and prevent problems such as new hidden liabilities and blind expansion.

Keywords: