10月8日财政部新闻发布会解读：一揽子增量财政政策值得期待

Group 1 - The report highlights the anticipation for a comprehensive package of incremental fiscal policies aimed at addressing local government debt and stabilizing the real estate market, which is expected to help achieve budget goals and support basic livelihood needs [1][2][10] - The fiscal measures include increasing debt limits for local governments to alleviate hidden debt, issuing special government bonds to support state-owned banks' core capital, and utilizing special bonds for real estate market stabilization [2][4][5][7] - The report emphasizes that while these policies are designed to mitigate risks, their effectiveness in stimulating growth may be limited, particularly in the context of current economic pressures [10][11] Group 2 - A significant aspect of the fiscal policy is the one-time large-scale resolution of local government hidden debt, which aims to free up resources for economic development and enhance market confidence [4][10] - The report outlines measures to support the real estate market, including allowing special bonds for land reserves and optimizing housing supply through the acquisition of existing properties for affordable housing [5][6][10] - The issuance of special government bonds to bolster the core capital of major state-owned banks is expected to enhance their risk resilience and credit capacity, thereby supporting the real economy [7][8][10] Group 3 - The report indicates that the fiscal policies will also focus on increasing support for key groups, particularly students, by expanding scholarship opportunities and improving financial aid [9][10] - It is noted that the overall impact of these fiscal measures on GDP growth is expected to be limited, with a forecast of GDP growth slightly below 5% for 2024 [10][12] - The report concludes that while the incremental fiscal policies will help achieve budgetary balance and support social objectives, their direct impact on economic growth may be constrained [10][12]