Guangxi's fiscal balance growth ranks high in China from Jan to May

The growth of fiscal revenue and expenditures of Guangxi Zhuang autonomous region from January to May ranked in the forefront of the country. Notably, the expenditures on people's livelihood was 172.22 billion yuan ($24.34 billion), up 10.9 percent, accounting for almost 90 percent of the increase in the region's financial expenditures.

From January to May, Guangxi's financial revenue was 120.86 billion yuan. Among it, the general public budget revenue was 72.33 billion yuan, a year-on-year increase of 0.2 percent. The region's general public budget expenditures reached 215.89 billion yuan, an increase of 9.8 percent year-on-year.

As its revenue and expenditure contradictions increased due to the novel coronavirus (COVID-19) epidemic, financial departments at all levels in Guangxi have optimized the expenditure structure and strengthened investment in people's livelihood and poverty alleviation measures.

From January to May, the expenditure for medical security management affairs in Guangxi increased by 20.9 times, the expenditure for emergency treatment of public health emergencies increased by 341 times, and the expenditure for employment subsidies in the region increased by 66 percent.

Guangxi has issued 15.6 billion yuan in poverty alleviation funds and 3.56 billion yuan in general subsidies for poverty alleviation efforts.

As of the end of May, the region has invested 3.41 billion yuan in COVID-19 epidemic prevention and control to ensure the implementation of funds for patient treatment, care for medical personnel, construction of treatment sites, and the purchase of medical equipment.

A total of 19.3 billion yuan in discount interest loans have been issued, driving more than 6,000 enterprises to resume production after the outbreak of the COVID-19 epidemic.

In addition, Guangxi has raised 35.32 billion yuan to support the construction of transportation, energy, information, logistics, and underground pipeline networks, as well as 900 million yuan to support consumer activities and 76.8 billion yuan in government bonds.