The invention discloses a low-cost multifunctional acid fluid system. The low-cost multifunctional acid fluid system is prepared from, by mass, 5-30% of hydrochloric acid, 0.001-2% of discharge aidingagent, 0.05-2% of anti-swelling agent, 0.05-2% of iron ion stabilizer, 0.05-2% of demulsifier, 0.05-5% of corrosion inhibitor, 0.001-2% of anti-acid slag agent, 0.01-0.5% of resistance reducing agentand the balance water, wherein hydrochloric acid is measured according to the mass of pure hydrogen chloride. The low-cost multifunctional acid fluid system is suitable for a carbonic acid rock storage layer, and on the basis of keeping the excellent performance of acid fluid, the cost is lowered by 15% or above; meanwhile the low-cost multifunctional acid fluid system has the advantages of beinglow in cost, high in corrosion rate to carbonate rock, good in fluid resistance reduction performance, good in anti-swelling effect, excellent in corrosion inhibition performance, good in anti-acid slag performance, high in demulsification rate, low in surface tension, capable of easily flowing back fluid, high in stability capacity of iron ions, good in compatibility and excellent in other comprehensive multifunctional performance.