The annual budget of a country is one of the most important documents of its national economic and social management. It reflects the directions and plans of economic and social development throughout the year and determines the distribution of labor and capital utilization, allocation of state resources and social wealth among different sectors, departments or individuals and families.
This year, our country has formulated the annual budget with a view of effectively promoting the countrys social and economic development. The total size of the budget is 116.22 trillion yuan, which is 6.59 trillion yuan or 5.9% higher than that of last year. Among them, expenditures account for 80.87 trillion yuan, an increase of 6.64 trillion yuan or 8.9% over last year; revenues accounted for 35.35 trillion yuan, up 4.39 trillion yuan or 14.2% on the previous year.
The main expenditures consist of 18.29 trillion yuan on education, 11.02 trillion yuan on health care and social security, 8.83 trillion yuan on social welfare, 6.16 trillion yuan on science and technology, 5.87 trillion yuan on national defense and 2.91 trillion yuan on housing. At the same time, the revenue part primarily consists of 16.4 trillion yuan in tax revenues, 10.91 trillion yuan in non-tax revenues, 4.17 trillion yuan in transfers from the central government and 4.08 trillion yuan in financial debts.
This years budget includes a large number of hot spots. This includes spending on the elderly and the development of new technologies, allocating more funds to the agricultural and rural areas, and a substantial increase in the funding of social welfare and medical services. It also includes measures to attract more foreign investment, as well as to promote trade and economic development.
In this budget, our country paid special attention to the development of science and technology. We increased our investment in research and development, and allocated more funds to the research and development of information networks, energy and environmental science and technology, and modern agriculture. We also increased the high-tech industry transfer capital, improved the technological transformation subsidies and social service facilities, and encouraged the development of high and new technology industries.
We will also spend more funds to protect the environment and ecological balance in our country this year. In this regard, we have increased funds for the protection and treatment of environment pollution and launched campaigns to improve air quality and reduce water pollution. We have also invested in the development of renewable energy sources, and encouraged individuals and organizations to save energy and reduce emissions.
In addition to this, our country has allocated more funds to agriculture and rural areas. We plan to invest more in agricultural production, improve the income of farmers, and strengthen the protection of rural resources. We will also increase the construction of rural infrastructure and promote the development of rural tourism.
In general, this budget accurately reflects the current social and economic situation in our country and helps us to make reasonable and effective arrangements of resources according to the needs of economic and social development. Moreover, in order to ensure the implementation of the budget, we will continue to strengthen its supervision as well as improve its management and control. In this way, we can realize the objectives of our annual budget and play a key role in promoting national economic and social development.
