’s government work report, in 2013 the fiscal deficit was 2%, reversing the deficit since 2009, the rate of decline. Experts said that this is the Chinese government’s economic situation at home and abroad to make the necessary adjustments,mulberry ties, the current rate of deficit and debt burden rate safe and controllable. Government work report, 2013 will continue to implement the proactive fiscal policy and appropriately increase the budget deficit and government debt. This year a deficit of 1.2 trillion yuan,old mulberry bags, 400 billion yuan more than last year to increase the budget, which the central budget deficit 850 billion yuan, 350 billion yuan on behalf of local bonds. This scale is the highest since the founding of New China,mulberry emmy, the deficit record. 2% of the deficit ratio has changed in recent years,mulberry handbag sale, the declining trend in the deficit ratio. 2008 after the outbreak of the international financial crisis, China began to implement the proactive fiscal policy to stimulate economic growth,mulberry leather purse, fiscal deficits sharply rebounded in 2009 to reach 950 billion, reaching a high of 2.79 percent. Since then, the economy gradually recovers, the deficit ratio to 1.5% in 2012 lows. School of Finance,mulberry clothes, Renmin University of China Professor Zhu Qing said that the deficit ratio increased again after a lapse of four years, indicating that the Chinese government hopes to increase fiscal spending to stimulate domestic demand growth in response to domestic and international economic downside risks. Although China’s economy since the financial crisis appeared to pick up the trend, but the international economic situation does not appear fundamentally improved,british clothing stores, increasingly severe export situation, the domestic “structural adjustment” pressure,mulberry store york, increased fiscal spending will exert a certain force of economic growth. Deputy director of Institute of Fiscal Science,mulberry handbag outlet, Bai Jingming said this year’s fiscal policy will be steady growth, benefit people’s livelihood, adjust the structure to provide strong support. Government work report that this year will focus on optimizing the structure of fiscal expenditure,mulberry alexa pink, continued to education, medicine and health,house of fraser mulberry, social security and other livelihood areas and weak links tilt,mulberry somerset satchel, strict control of administrative expenses and other general expenses. The central budget for investment mainly for affordable housing projects, agriculture,mulberry alexa leopard, irrigation,mulberry store london, pipe network and other infrastructure, social undertakings and other livelihood projects,mulberry pocket book, energy conservation and ecological environment and other fields. Combined with tax reform to improve the structural tax cuts. “Incremental tax cuts increase the financial pressure on the short term, but long term, to stimulate economic development,mulberry usa, but also conducive to the tax increase, the deficit ratio and debt burden rate safe and controllable.” Bai Jingming representation. According to EU regulations, the euro zone countries to comply with the fiscal discipline that the fiscal deficit to GDP must not exceed 3% of GDP debt balance can not exceed 60%. Under this standard to judge the scale of China’s fiscal deficit and debt burden ratios at a safe level. But Zhu Qing said the government work report mentioned in the budget deficit is “dominant” deficit, but not reflected in the report of the “hidden liabilities” risk issues can not be ignored. “Debt of local government financing platform and some government projects to meet unpaid belong ‘hidden liabilities’ debt risk concern.” Qing Zhu said. Strengthening of local government debt management is the government’s focus this year. Government work report, properly handle debt repayment and financing of projects under construction, and actively promote local government debt management system construction,mulberry card holder, the reasonable control of local government debt levels. Is worth noting that the proactive fiscal policy may also bring negative effects of inflation. In this regard, Bai Jingming said the one hand, prudent monetary policy will help to prevent inflation; On the other hand, fiscal policy,mulberry street, increase income and reduce import tariffs on some products, such as supporting policies are also able to absorb the impact of inflation on economic growth and protection of people’s livelihood pressure.
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