Group 1 - The core viewpoint of the article emphasizes the continuation of a proactive fiscal policy in 2026, focusing on increasing total expenditure while optimizing its structure and effectiveness [2][3][4] - The fiscal deficit rate for 2025 is set at around 4%, which is an increase of 1 percentage point from the previous year, with new government debt amounting to 11.86 trillion yuan, reflecting a year-on-year increase of 2.9 trillion yuan [3] - The government debt ratio remains low compared to the average levels of G20 countries, indicating a stable fiscal position despite the increase in deficit and debt [3] Group 2 - In 2026, the government will continue to issue long-term special bonds aimed at supporting "two重" construction and "two新" initiatives, while optimizing policies related to bond management [4] - The overall expenditure will maintain a "only increase, not decrease" approach, ensuring that key areas receive strong support [2]
财政部：2026年财政总体支出力度“只增不减”
证券时报·2026-01-20 07:36