He said that local governments' fiscal income is projected to reduce by 800 billion yuan to 900 billion yuan this year and some regions may face severe pressure.
他说,地方财政减收增支的规模在8000亿元到9000亿元,一些地方面临较大压力。
Meanwhile, the government has also raised the quota for local government special bonds to 3.75 trillion yuan to boost investment and shore up economic growth.
同时,今年拟安排地方政府专项债券3.75万亿元,比去年有所增加,以促进投资,支撑经济增长。
China's fiscal stimulus package could reach a total of 8.5 trillion yuan if the expanded central government budget deficit, the issuance of the special treasury notes and the local government special bonds are included, said Luo Zhiheng, former chief macroeconomic researcher at the Evergrande Research Institute.
恒大研究院前首席宏观经济研究员罗志恒表示,如果将增加的中央政府预算赤字、特别国债和地方政府专项债券的发行计算在内,中国的财政刺激方案总额可能达到8.5万亿元。
The policy stance is an indication that fiscal policy has played a lead role in offsetting the economic risks and will help realize the "six priorities" laid out by the government, including safeguarding employment and people's livelihoods, Luo said.
他说,这一政策立场表明,财政政策在抵消经济风险方面发挥了主导作用,并将有助于实现政府提出的“六保”,包括保障就业和民生。
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