First Time in Nearly 20 Years: China Runs First Quarter National Deficit
The first quarter of this year, China has a rare 155 billion yuan deficit. “In general, the fiscal deficit in the second half, but the first quarter of this year there is a fiscal deficit, which is not nearly a decade or two, which shows that fiscal policy efforts than before.” Shanghai University of Finance and Economics Institute Assistant researcher Wu Huabin told the first financial reporter.
Another number of experts interviewed by the first financial interview that the first quarter of this year, mainly due to financial deficits in the fiscal deficit significantly accelerated, and this year to be scheduled to set a record high budget deficit.
However, positive fiscal policy is not just reflected in the fiscal expenditure overweight. Since April this year, more than 5800 billion yuan tax reduction policies are being implemented, to reduce the burden on enterprises to release economic vitality is also a major point of active fiscal policy. Positive fiscal policy also through the PPP model (government and social capital cooperation), industrial funds, leveraging the trillion social capital, stimulate market vitality, thus stabilizing economic growth.
iFeng: 一季度罕见财政赤字1551亿元 近20年罕见