The Ministry of Finance released data on May 20th, introducing the operation of national fiscal revenue and expenditure in the first four months of this year. Analysis suggests that in the first four months of this year, fiscal revenue has consolidated and improved, with cumulative growth rates continuing to increase; Financial expenditures are being pushed forward, and expenditures in key areas are being well guaranteed.
Data shows that in the first four months of this year, the national general public budget revenue was 834.04 billion yuan, a year-on-year increase of 3.5%, an increase of 1.1 percentage points compared to the first quarter.
The scale and year-on-year growth rate of the national general public budget revenue have both reached a new high in nearly three years, reflecting the current trend of stable and progressive economic development, "said Yao Dongmin, Director and Professor of the China Finance Development Collaborative Innovation Center at the Central University of Finance and Economics.
Specifically, in terms of revenue, in the first four months of this year, the national tax revenue was 6809.7 billion yuan, a year-on-year increase of 3.9%; Non tax revenue was 153.07 billion yuan, a year-on-year increase of 1.6%.
Fiscal revenue, especially tax revenue, is closely related to economic operation, "said Yao Dongmin. In the first four months of this year, the growth momentum of tax revenue was stronger than that of non tax revenue. From the perspective of specific tax categories, tax categories closely related to the operation of the real economy have shown significant improvement, foreign trade related tax categories have shown strong growth, and the active capital market has significantly boosted tax revenue.
The data released by the Ministry of Finance on the same day showed that in the first four months of this year, the domestic value-added tax was 278.06 billion yuan, a year-on-year increase of 5.9%; The value-added tax and consumption tax on imported goods amounted to 637.5 billion yuan, a year-on-year increase of 11.2%; The tariff was 76.1 billion yuan, a year-on-year increase of 10.9%. In addition, stamp duty was 206.3 billion yuan, a year-on-year increase of 27.8%; Among them, the stamp duty on securities trading was 93.5 billion yuan, a year-on-year increase of 74.8%.
Yao Dongmin stated that the domestic value-added tax has achieved rapid growth, reflecting the marginal recovery of industrial production, service industry demand, and price levels, which has provided strong support for the growth of fiscal revenue; The increase in foreign trade related tax categories is strong, reflecting the recovery of import demand and the continuous improvement of trade activity.
In terms of fiscal expenditure, data shows that in the first four months of this year, the national general public budget expenditure was 948.09 billion yuan, a year-on-year increase of 1.3%. Looking at the central and local levels, the expenditure of the central general public budget at this level was 1.291 trillion yuan, a year-on-year increase of 5.1%; The local general public budget expenditure was 8.1899 trillion yuan, a year-on-year increase of 0.7%.
In Yao Dongmin's view, in the first four months of this year, the national general public budget expenditure scale was 31.6% of the budget at the beginning of the year, and the progress was the fastest in the same period of nearly five years. This reflects that more proactive fiscal policies are accelerating their implementation, and fiscal expenditures are maintaining necessary strength, with a more prominent feature of being proactive.
From the perspective of specific expenditure items, expenditures in key areas such as people's livelihood have been well guaranteed. For example, in the first four months of this year, health expenditures amounted to 831 billion yuan, a year-on-year increase of 11.4%; Social security and employment expenditures amounted to 1.8079 trillion yuan, a year-on-year increase of 7.3%.
The growth rate of health expenditure has reached double digits, mainly related to the issuance of childcare subsidies, the increase of basic medical insurance financial subsidies, etc.; social security and employment expenditures have grown rapidly, reflecting the continuous strengthening of stable employment and bottom line policies. Yao Dongmin said that these data fully reflect the continuous optimization of fiscal expenditure structure, and the "real money and silver" continue to tilt towards key areas. (Looking into the New Era)