Fiscal policy must be precise and efficient
Recently, the Politburo meeting of the Central Committee made arrangements for economic work in 2022, and proposed that “proactive fiscal policies should improve efficiency and pay more attention to precision and sustainability.”
This is a higher requirement for the implementation of a proactive fiscal policy. While the fiscal policy will continue to maintain a positive orientation next year, the improvement of efficiency will be placed in a prominent position. It will not only maintain the necessary support for the economy, but also attach great importance to the effective use of policies and funds. Effective.
Scientific and effective macro-control is an inevitable requirement for high-quality development.
As an important means of macro-control, the tools and means of fiscal policy have become more abundant and their roles have become more prominent, effectively promoting the steady and healthy development of the economy.
A proactive fiscal policy is not simply a quantitative expansion in terms of the scale of expenditures and deficit rate, but more attention should be paid to the effects of stabilizing growth and adjusting the structure.
To further fully play its role, it is necessary to improve the accuracy and effectiveness of policies and funds.
It should also be noted that improving efficiency is also a need to cope with the current risks and challenges of economic operations.
Efficiency is an inherent requirement of fiscal operations. Under the situation of the new crown pneumonia epidemic and the increasing downward pressure on the economy, it is particularly important to emphasize the improvement of efficiency.
In recent years, a series of fiscal policy tools such as increased expenditures, tax cuts and fee reductions, direct funds, and special bonds have played a powerful "combination punch", and the results have been very obvious.
At the same time, the problem of contradictions between fiscal revenues and expenditures is prominent and the space for afterburning is limited. It is necessary to take into account the needs of stable growth and risk prevention, and strictly guard against all kinds of "black swans" and "gray rhinos."
To this end, it is necessary not only to determine a reasonable scale in terms of "quantity", but also to ensure that policies are more precise and effective in terms of quality and fiscal sustainability.
To improve efficiency, we must pay attention to expenditure efficiency and capital performance.
The current fiscal revenues and expenditures are generally in a tight balance, and it is very important to maximize the benefits of limited funds.
In terms of expenditure efficiency, my country has creatively established and normalized the implementation of a direct fiscal fund mechanism. In the next step, it is necessary to study how to expand the scope of direct funds and optimize the distribution and use process.
The issuance of special bonds should form a physical workload as soon as possible, and effectively play the role of stabilizing investment, expanding domestic demand, and making up for shortcomings.
At the same time, we must continue to deepen the implementation of performance management, and earnestly ensure that we must be accountable for effectiveness while spending money and that for ineffectiveness.
It is worth emphasizing that the use of funds cannot be "overwhelming flooding", but must be "precise drip irrigation", especially in the field of people's livelihood protection, focusing on key strategic areas such as scientific and technological self-reliance and industrial chain supply chain optimization and upgrading.
To improve efficiency, we must pay attention to the sense of acquisition by market players.
A key indicator of the effectiveness of fiscal policy is how market players feel.
Since the outbreak of the epidemic, my country has continued to introduce a series of fiscal policy measures to relieve the difficulties of enterprises in many ways, especially the tax and fee cuts have effectively reduced the burden on enterprises.
In the next step, it is necessary to maintain the continuity of tax and fee reduction policies, and to study and introduce new targeted measures to help companies better deal with production and operation difficulties in response to the needs of enterprises, especially small, medium and micro enterprises.
To improve efficiency, we must also strengthen strict adherence to the bottom line of risk.
In recent years, my country has continued to strengthen the management of local government debt, and the overall risk is controllable, but there are still many problems and hidden dangers.
On the one hand, it is necessary to strengthen the management of local government bonds, especially special bonds, improve the performance of fund use, prevent problems such as idle funds, illegal misappropriation, etc., and prevent legal debt risks; on the other hand, it is necessary to continue to prevent and resolve hidden debt risks of local governments, and be safe Resolve the stock and resolutely curb the increase.
The Politburo meeting emphasized that next year's economic work must take the lead and seek progress while maintaining stability.
To implement this requirement, a proactive fiscal policy must be sound and effective, strengthen the pertinence, forward-looking, and flexibility of regulation, improve policy efficiency and effectiveness, and promote economic operations to remain within a reasonable range.
(Source of Zeng Jinhua: Economic Daily)