On October 24, the Ministry of Finance released the status of my country’s fiscal revenue and expenditure in the first three quarters of 2023. Data show that from January to September, the national general public budget revenue exceeded 16 trillion yuan.
Data show that in the first three quarters of 2023, the national general public budget revenue was 16.67 trillion yuan, a year-on-year increase of 8.9%. Among them, national tax revenue increased by 11.9%.
From a local perspective, in the first three quarters, local general public budget revenue increased by 9.1% year-on-year.
National general public budget expenditure is nearly 20 trillion yuan
According to data from the Ministry of Finance, in the first three quarters of 2023, the national general public budget expenditure was nearly 20 trillion yuan.
Data show that in the first three quarters of 2023, the national general public budget expenditure was 19.79 trillion yuan, a year-on-year increase of 3.9%. Investment in weak links and key areas of economic and social development has been effectively guaranteed, further unleashing the effectiveness of proactive fiscal policies.
Shi Yinghua, director of the Macroeconomic Research Center of the Chinese Academy of Fiscal Sciences: The entire finance is also promoting economic recovery and plays an important role in this. For example, expenditures on key people's livelihood categories are significantly higher than the growth rate of general overall public expenditures. In particular, most of the expenditures on education, social security and employment, and health will be converted into consumption. That is to say, the entire fiscal policy we are talking about is intensifying and improving efficiency. On the one hand, it is expanding effective demand, and at the same time, it is also improving the quality of supply. It works from the demand side and supply side to promote economic stability and improvement.
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