Zhang Bin, senior fellow of CF40, believes that specific measures to deal with the #novelcoronavirus does not require special responses from #aggregatepolicy. The measure shall target towards specific regions, industries and sectors.
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Given weak economic growth and relatively low prices, it is necessary to relax aggregate economic policies, such as increasing #fiscalexpenditure and cutting #interestrate. With or without an #epidemic, these policies are worth considering.
There is no need to link these aggregate policies with the epidemic.
In addition, specific financial budgets need to be set aside to deal with epidemic-related expenditures and effects.
It is the duty of the government who has the greatest financial space to meet the challenge， regarding taking the initiative to bear the losses caused by the epidemic as much as possible while reducing the pressure on enterprises and residents.
For regions and industries that have been hit hard, tax deductions within specific period of time could be took into consideration.
For specific groups that have been severely impacted, certain subsidies could be took into consideration.
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