Finance sector deploys tasks for 2025

On December 31, Prime Minister Pham Minh Chinh, Deputy Prime Minister Ho Duc Phoc and Minister of Finance Nguyen Van Thang chaired a national online conference to review the work of the Finance sector in 2024 and deploy tasks for 2025. Attending the conference at the central bridge were representatives of leaders of ministries, branches, agencies and central units.

At the Provincial People's Committee bridge, Vice Chairman of the Provincial People's Committee Phan The Tuan chaired the conference; also attending were representatives of leaders of departments, branches, and units in the province.

Vice Chairman of the Provincial People's Committee Phan The Tuan chaired the conference at the Bac Giang province bridge.

In 2024, in the context of many difficulties and challenges, the Finance sector has made efforts and achieved many important and comprehensive results in many fields. The Ministry of Finance has advised the Government to proactively and flexibly operate fiscal policies, focusing on key points, promptly supporting people and businesses to develop production and business, promoting economic growth. The policies on exemption, reduction and extension of taxes, fees, charges and land rents in 2024 are estimated to reach about 197.3 trillion VND. Of which, exemption and reduction are about 99 trillion VND, extension is about 98.3 trillion VND.

State budget revenue by the end of 2024 will reach about VND 2,025.4 trillion, equal to 119.1%, an increase of VND 324.4 trillion compared to the estimate, an increase of 15.5% compared to the implementation in 2023, exceeding the assigned estimate. State budget expenditure will reach about VND 1,830.8 trillion, equal to 86.4% of the estimate. State budget expenditure management is strictly managed and economical to focus resources on development investment. Price management and operation in 2024 will closely follow the Government's operation scenario, market prices will be basically stable, the average CPI index in 11 months will increase by 3.69% over the same period, inflation will increase by 2.7%...

During the year, the Ministry of Finance continued to pioneer the application of information technology and modernization in management fields, aiming for an advanced and modern digital finance, serving the goals of e-Government, Digital Government, etc. Thereby, contributing to supporting the economy, removing difficulties for businesses and people, stabilizing the macro economy, balancing the economy, controlling inflation, developing socio-economic fields, ensuring national defense, security, social order and safety and people's lives.

At the conference, delegates discussed and pointed out the causes of difficulties and limitations, and at the same time recommended and proposed many solutions to effectively carry out the tasks of 2025, with the goal of organizing and operating fiscal policies proactively, flexibly, with focus and key points, contributing to stabilizing the macro-economy, accelerating the implementation of important infrastructure investment projects, connecting regions and inter-regions, creating a foundation to promote economic growth.

Prime Minister Pham Minh Chinh, Deputy Prime Minister Ho Duc Phoc and Minister of Finance Nguyen Van Thang chaired the conference.

Concluding the conference, Prime Minister Pham Minh Chinh congratulated and commended the achievements of the Finance sector in 2024. Central budget revenue is estimated to reach 123.7% of the estimate, local budget revenue is estimated to reach 114.4% of the estimate. This is the first time that state budget revenue has reached over 2 million billion VND, exceeding the estimate by 324.4 thousand billion VND.

Analyzing the existing problems and limitations, Prime Minister Pham Minh Chinh said that the reasons for the existing problems and limitations of the Finance sector are due to bottlenecks in mechanisms and policies, many unnecessary administrative procedures, causing difficulties, congestion, and inability to disburse capital.

It is forecasted that the situation will face many difficulties and challenges in the coming time. In order to successfully complete the socio-economic targets and the State budget estimate for 2025, Prime Minister Pham Minh Chinh requested the Finance sector to review inappropriate mechanisms and policies, advise the Government to promptly amend policies, ensure rationality, and create conditions for business development.

Continue to be determined, proactive, flexible, and effectively implement the proposed solutions and tasks, maintain the foundation of macroeconomic stability, control inflation, ensure major balances, and develop socio-economic fields sustainably. Strengthen the capacity to accurately and promptly forecast changes in the world and domestic economic situation to propose solutions to proactively, flexibly, and reasonably expand fiscal policy, with focus and key points, and coordinate synchronously, closely, and smoothly with monetary policy and other policies to effectively handle arising issues.

Strictly implement the law on collection and management of state budget revenue, focus on implementing solutions to strengthen state budget revenue management, strive to complete the assigned revenue estimates at the highest level to ensure resources for socio-economic development goals. Enhance financial discipline and order, improve the efficiency of management, allocation and use of state budget and public assets, in conjunction with the goals of economic restructuring and sustainable development. Effectively control state budget deficit, public debt, and contingent debt obligations; effectively implement project bidding.

Promote administrative reform, digital transformation; innovate, reorganize the apparatus, streamline the payroll to improve the effectiveness and efficiency of the political system, innovate the financial mechanism of public service units. Strengthen price and market management; ensure stable and safe operation of the financial market and financial services, promote fair competition among economic sectors. Focus on managing financial tasks during the Lunar New Year 2025.../.

Nguyen Mien

Source: https://bacgiang.gov.vn/chi-tiet-tin-tuc/-/asset_publisher/St1DaeZNsp94/content/nganh-tai-chinh-trien-khai-nhiem-vu-nam-2025