By Ni Hongri, Zhang Junwei　

Date: 2003/04/23

Abstract: 　　

The implementation of 2002 fiscal budget has shown some different features from the previous years. The growth rate of financial revenue was reduced to some extent compared with the past few years, but the financial expenditure still kept a double-digit growth rate and even exceeded the growth of revenue. Given the fact that the policy factors that caused revenue reduction have replaced those special factors that increased revenue as seen in the past few years, the contradiction between revenue and expenditure has become rather acute. However, the 2002 budget was successfully executed through increasing revenue and reducing expenditure, and the financial deficit and the amount of national debt were all controlled within the 2002 budget set at the beginning of the year. In 2003, the contradiction between revenue and expenditure is still tangible and with the sound development of economy and the implementation of measures on increasing revenue and reducing expenditure, the overall fiscal situation is relatively optimistic.