Prudent fiscal policy pledged

时间：2007-12-20 06:29:16

（单词翻译:单击）

Dec.20 - The Ministry1 of Finance has pledged to adopt a prudent2 fiscal3 policy to help cool the economy and prevent excessive price rises.

 

The authorities will also make efforts to improve people's well-being4 by supporting such sectors6 as social security, health, education and housing, Xie Xuren, minister of finance, told a meeting Wednesday in Beijing.

 

The country will "properly" reduce the budget deficit7, he said. Last year, the central government deficit was 274.9 billion yuan ($37.3 billion), or 1.37 percent of gross domestic product. It is budgeted to drop to 1.1 percent this year.

 

The issuance of long-term construction bonds will be cut, which will help the central government's drive to prevent the economy from overheating and rising prices from evolving into entrenched8 inflation - a platform hammered out at the Central Economic Work Conference held earlier this month, Xie told heads of the nation's local fiscal departments.

 

The government started to issue long-term construction bonds, or bonds for large-scale infrastructure9 projects, in the wake of the 1997-98 Asian financial crisis to sustain economic growth.

 

But with the economy growing briskly in recent years - and even facing the risk of overheating - the central government has gradually cut the scale of such bonds to avoid jazzing up already-fast investment growth.

 

As a result, the issuance of such bonds has been cut from 150 billion yuan in 2002 to 60 billion yuan last year.

 

Xie vowed10 to further use fiscal policy to stabilize11 rising prices.

 

"(We) will actively12 support production of agricultural products such as grain, edible13 oil and meat, and ensure the supply of basic daily necessities to curb14 excessive price rises."

 

Subsidies15 will be extended to those hit hard by rising prices timely, he added.

 

The consumer price index, a key gauge16 of inflation, rose to a decade high of 6.9 percent in November, the fourth consecutive17 month when it exceeded 6 percent.

 

Xie said more funds would be pumped into the health sector5, and the rural cooperative medical insurance system, which now covers 730 million farmers in 86 percent of all counties nationwide, would be expanded.

 

In the first 11 months, the central and local fiscal expenditure18 on health amounted to 142 billion yuan, up 40.6 percent year on year, Xie said.

 

Fiscal revenue grew by 33.5 percent year-on-year in the first 11 months to reach 4.8 trillion yuan ($651 billion) and is expected to hit 5.1 trillion yuan for the whole year, 31 percent more than in 2006, the finance minister said.

 

Expenditure in education increased by 32.7 percent during the January-November period, while social security and employment expenditure grew by 28.6 percent.

 
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1 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。
2 prudent M0Yzg     
adj.谨慎的，有远见的，精打细算的
参考例句：
  • A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
  • You must school yourself to be modest and prudent.你要学会谦虚谨慎。
3 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
4 well-being Fe3zbn     
n.安康，安乐，幸福
参考例句：
  • He always has the well-being of the masses at heart.他总是把群众的疾苦挂在心上。
  • My concern for their well-being was misunderstood as interference.我关心他们的幸福，却被误解为多管闲事。
5 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
6 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
7 deficit tmAzu     
n.亏空，亏损；赤字，逆差
参考例句：
  • The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
  • We have a great deficit this year.我们今年有很大亏损。
8 entrenched MtGzk8     
adj.确立的，不容易改的(风俗习惯)
参考例句：
  • Television seems to be firmly entrenched as the number one medium for national advertising.电视看来要在全国广告媒介中牢固地占据头等位置。
  • If the enemy dares to attack us in these entrenched positions,we will make short work of them.如果敌人胆敢进攻我们固守的阵地，我们就消灭他们。
9 infrastructure UbBz5     
n.下部构造，下部组织，基础结构，基础设施
参考例句：
  • We should step up the development of infrastructure for research.加强科学基础设施建设。
  • We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。
10 vowed 6996270667378281d2f9ee561353c089     
起誓，发誓（vow的过去式与过去分词形式）
参考例句：
  • He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
  • I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。
11 stabilize PvuwZ     
vt.（使）稳定，使稳固，使稳定平衡；vi.稳定
参考例句：
  • They are eager to stabilize currencies.他们急于稳定货币。
  • His blood pressure tended to stabilize.他的血压趋向稳定。
12 actively lzezni     
adv.积极地，勤奋地
参考例句：
  • During this period all the students were actively participating.在这节课中所有的学生都积极参加。
  • We are actively intervening to settle a quarrel.我们正在积极调解争执。
13 edible Uqdxx     
n.食品，食物；adj.可食用的
参考例句：
  • Edible wild herbs kept us from dying of starvation.我们靠着野菜才没被饿死。
  • This kind of mushroom is edible,but that kind is not.这种蘑菇吃得，那种吃不得。
14 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
15 subsidies 84c7dc8329c19e43d3437248757e572c     
n.补贴，津贴，补助金( subsidy的名词复数 )
参考例句：
  • European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。
  • Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。 来自《简明英汉词典》
16 gauge 2gMxz     
v.精确计量；估计；n.标准度量；计量器
参考例句：
  • Can you gauge what her reaction is likely to be?你能揣测她的反应可能是什么吗？
  • It's difficult to gauge one's character.要判断一个人的品格是很困难的。
17 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
18 expenditure XPbzM     
n.(时间、劳力、金钱等)支出；使用，消耗
参考例句：
  • The entry of all expenditure is necessary.有必要把一切开支入账。
  • The monthly expenditure of our family is four hundred dollars altogether.我们一家的开销每月共计四百元。

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