Government Work Report: This year's deficit rate is planned to be around 2.8%

(Two Sessions Express) Government Work Report: This year's deficit rate is planned to be around 2.8%

　　China News Service, Beijing, March 5. Chinese Premier Li Keqiang said in his government work report to the Fifth Session of the 13th National People's Congress on the 5th that the effectiveness of active fiscal policy should be improved.

This year's deficit rate is planned to be around 2.8%, which is lower than last year, which is conducive to enhancing fiscal sustainability.

　　He pointed out that it is expected that fiscal revenue will continue to grow this year. In addition, certain state-owned financial institutions and franchised institutions have turned over their profits from recent years and transferred them into budget stabilization funds. The scale of expenditure will increase by more than 2 trillion yuan (RMB, the same below) compared with last year. Available financial resources have increased significantly.

　　Li Keqiang said that the new financial resources should be channeled to the grassroots level, mainly used to implement policies to help enterprises, stabilize employment and protect people's livelihood, promote consumption and expand demand.

This year, the central government's expenditure at its own level will increase by 3.9%, of which the central department's expenditure will continue to grow negatively.

Transfer payments from the central government to local governments increased by about 1.5 trillion yuan, with a scale of nearly 9.8 trillion yuan, an increase of 18%, the largest increase in many years.

　　Li Keqiang said that we should make good use of government investment funds to drive the expansion of effective investment.

This year, 3.65 trillion yuan of local government special bonds are planned to be arranged.

Strengthen the performance orientation, adhere to the principle of "funds follow the project", reasonably expand the scope of use, support the follow-up financing of projects under construction, and start a batch of qualified major projects, new infrastructure, renovation of old public facilities and other construction projects.

　　Li Keqiang also pointed out that it is necessary to insist that the government live a tight life and make better use of the people.

Vigorously optimize the expenditure structure, ensure key expenditures, and strictly control general expenditures.

Revitalize financial stock funds and idle assets.

Governments at all levels must work hard, be diligent and thrifty, and the central and provincial governments must take the lead.

Strengthen revenue and expenditure management, strictly prohibit extravagance and waste, and must not build new buildings in violation of regulations, and must not engage in image projects. Those who violate financial discipline and wantonly squander public funds must be severely punished, and precious funds must be used for development. superior.

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