关于地方债管理中风险及对策的思考

The Thinking on Risk and Countermeasures of Local Government Debt Management

1994年财税改革之后,由于财权事权失衡,地方政府面临巨大的财政压力,出现了举债的内在需求。囿于老《预算法》和《担保法》的掣肘,五花八门的融资平台和融资方式应运而生。如今地方债的规模之大、方式之繁杂、投资项目之无规划、财税等制度之不完善,均对地方政府的财政安全造成威胁。从短期看,摸底地方债的规模、厘清方式、化解存量地方债的现实风险是当务之急。从长期看,规范地方政府举债行为是解决之道。从根本上,解决地方债的问题,财税体制及行政体制的改革才是治本之道。

After the 1994 tax reform,because the fiscal power and administrative authority are unbalanced,the local governments face the financial pressures,then have the inherent demand for borrowing.Because of the constraints of the old “budget law” and “guarantee law”,all kinds of financing platform and way emerge.Now local government debt scale so big,complex,investment projects without planning,taxation system is not perfect,are on the local government＇s financial security threat.In the short-term,the size of local government debt thoroughly,clarify the way to defuse the risk of local debt stock,the reality is a pressing matter of the moment.In the long-term,regulate the behavior of local government debt is the solution.Fundamentally,solve the problem of local government debt,tax reform and administration system is the root of the problem.