地方“钱袋子”更鼓了！前三季27个省份财政收入实现正增长，比去年多了6个

Core Insights - The Ministry of Finance reported that the general public budget revenue for the first three quarters of 2023 reached 16.39 trillion yuan, a year-on-year increase of 0.5% [1][3] - Tax revenue, which is the main component of fiscal income, grew by 0.7% year-on-year, with significant contributions from value-added tax and corporate income tax [5][7] - Public budget expenditure for the same period was 20.81 trillion yuan, reflecting a year-on-year growth of 3.1%, with notable increases in social security, education, and health spending [8] Revenue Analysis - The general public budget revenue totaled 163,876 billion yuan, with tax revenue at 132,664 billion yuan and non-tax revenue at 31,212 billion yuan [1] - Tax revenue growth was driven by a 3.6% increase in domestic value-added tax, which is indicative of the performance in the industrial and service sectors [5] - Corporate income tax saw a year-on-year increase of 0.8%, indicating a recovery in industrial profits as market vitality improves [7] Expenditure Analysis - Public budget expenditure reached 208,064 billion yuan, with central government expenditure at 31,008 billion yuan (up 7.3%) and local government expenditure at 177,056 billion yuan (up 2.4%) [1] - Key areas of expenditure included social security (up 10%), education (up 5.4%), and health (up 4.7%), marking the highest growth rates for these sectors in three years [8] Debt Management - The Ministry of Finance plans to continue the practice of pre-allocating the new local government debt limit for 2026, which is expected to support major projects and stabilize the government bond market [9][10] - This approach aims to enhance the completeness of local budget preparation and ensure timely funding for key projects [9]