On the afternoon of December 27, the Ministry of Finance held a Conference to review the implementation of financial and state budget tasks in 2023 and the plan to implement financial and state budget tasks in 2024. Deputy Prime Minister Le Minh Khai attended and directed the Conference.
State budget revenue exceeds 4.5% of estimate
In 2023, the world's political, economic and social situation continues to develop complicatedly, significantly affecting the recovery and economic growth momentum in the country.
However, the Ministry of Finance has effectively implemented the work of building and perfecting institutions, policies and laws. The building and promulgation of basic documents meet the requirements of progress and quality, contributing to perfecting the legal framework in the field of finance - State budget, promptly removing difficulties for production - business activities, enterprises, people, supporting the recovery and development of the socio-economy.
Specifically, the Ministry of Finance has submitted to the National Assembly for approval the Law on Prices (replacing the 2012 Law on Prices) and 5 resolutions; submitted to the National Assembly Standing Committee for approval 2 resolutions and completed 43/61 assigned tasks. To date, the Ministry of Finance has drafted and submitted to the Government for promulgation 19 decrees, considered for promulgation 15 draft decrees; submitted to the Prime Minister for promulgation 04 decisions, considered for promulgation 2 decisions; issued under its authority 64 circulars guiding the field of finance - State budget.
Overview of the Conference.
Notably, the Ministry of Finance has proactively and flexibly operated fiscal policies to promptly support the economy, remove difficulties for businesses and people, stabilize the macro-economy, control inflation, promote economic growth, ensure social security; strive to increase revenue, strictly manage, and increase savings in state budget expenditures.
The Ministry of Finance proactively researches, proposes, presides over, and coordinates with ministries, branches, and localities to submit to competent authorities for promulgation of policy packages to exempt, reduce, and extend taxes, fees, charges, and land rents in 2023 with a scale of about VND 200 trillion, in order to remove difficulties for businesses and people, control inflation, and support socio-economic recovery and development.
Regarding the results of state budget collection management, in 2023, the Ministry of Finance will focus on directing the good implementation of tax laws and state budget collection tasks from the beginning of the year; strengthening inspection, examination, and strictly handling violations and fraud in tax declaration and refund; promoting administrative procedure reform, digital transformation, modernization, application of information technology, and implementation of electronic tax management. At the same time, closely coordinating with functional forces to strengthen the fight against revenue loss, smuggling, trade fraud, transfer pricing, tax evasion, etc.
By December 25, 2023, the state budget revenue reached VND 1,693.5 trillion, equal to 104.5% of the estimate, down 4.2% over the same period in 2022. Of which, domestic revenue reached 105.7% of the estimate, revenue from crude oil reached 144.6% of the estimate, and balanced revenue from import-export activities reached 92.1% of the estimate.
By December 25, 2023, state budget revenue reached VND 1,693.5 trillion, equal to 104.5% of the estimate, down 4.2% over the same period in 2022.
Regarding the organization and management of state budget expenditures, the Ministry of Finance promptly assigned budget estimates at the beginning of the year for ministries, branches and localities to implement.
Thanks to proactive management, the 2023 State budget expenditure tasks have basically completed the set targets, promptly meeting the expenditure tasks arising according to the implementation progress of the budget spending units; overcoming the consequences of natural disasters and epidemics, ensuring national defense, security, social security and fully paying due debts; funding for salary reform implementation from July 1, 2023.
Total state budget expenditure by December 31, 2023 is estimated at about VND 1.73 million billion, equivalent to 83.4% of the estimate. Of which, development investment expenditure is estimated at 79.8% of the estimate decided by the National Assembly, equivalent to 81.9% of the plan assigned by the Prime Minister, up 33% over the same period in 2022.
Public debt indicators are under control.
According to the Ministry of Finance, in 2023, the estimated state budget deficit will be about 4% of GDP, a decrease of VND 40,300 billion compared to the estimate.
In 2023, the Ministry of Finance has strictly controlled public debt safety indicators according to Resolution No. 07 of the Politburo, Resolution 23 of the National Assembly and Resolutions of the Government. It is expected that by the end of 2023, public debt will be about 37% of GDP, government debt will be about 34% of GDP, lower than the ceiling and warning threshold allowed by the National Assembly.
With positive socio-economic, financial and state budget development results in the context of many difficulties and challenges, it has contributed to raising the national credit rating.
In 2023, the three credit rating agencies S&P, Moody's and Fitch Ratings continued to positively assess Vietnam's national credit rating, in which Fitch Ratings upgraded Vietnam's long-term national credit rating from BB to BB+ "Stable Outlook"; S&P and Moody's maintained Vietnam's national credit rating (respectively BB+ "Stable Outlook"; Ba2 "Positive Outlook").
These continue to be positive signals, affirming the high appreciation of international organizations for the economic prospects and the Government's implementation of flexible, creative, timely and effective policies in stabilizing the macro-economy.
The Ministry of Finance also focuses on reforming administrative procedures, applying information technology, digital transformation; building e-Government; and arranging and building a streamlined, effective and efficient apparatus.
According to the results announced at the meeting of the Steering Committee for Administrative Reform (April 19, 2023) on administrative procedure reform associated with digital transformation, announcing the 2022 Administrative Reform Index of ministries, branches, localities and the Satisfaction Index of people and organizations with the service of state administrative agencies in 2022, the Ministry of Finance ranked 3rd with the result of the Administrative Reform Index reaching 89.76%.
This is the 9th consecutive year (since 2014) that the Ministry of Finance is in the group of 3 ministries and ministerial-level agencies leading in the administrative reform index .
Source
Comment (0)