At the NA working session (Photo: VNA)Hanoi (VNA) –Minister of Finance Dinh Tien Dung verified some issues regardingsocio-economic development and State budget during the ninth session of the 14th National Assembly on June 15.
Budget collection in2018 exceeded the estimate, budget spending was closely managed, budgetoverspending and public debt sharply decreased, thus helping to consolidate thenational finance and strengthen the country’s capacity in coping with impactsfrom outside such as COVID-19, he said.
The minister said it ishard to review the estimate for each locality, adding that the ministry hasinstructed tax and customs agencies to develop a tax information system tofacilitate local budget estimates.
Dung also stressedimprovements in the observance of budget-related regulations, while pointing tolimitations in the observance of regulations regarding investment, land use,public asset and budget management in many agencies and localities.
According to theminister, natural disasters and diseases, especially COVID-19, have greatlyimpacted the socio-economic situation, and state budget collection, spendingand balance in 2020.
Given this, theministry has coordinated with relevant ministries and agencies in building managementplans, and proposed fiscal policies to cope with the epidemic, removedifficulties faced by production and business sectors, and ensure socialwelfare, Dung said.
He also warned ofsevere and lingering effects of COVID-19 in Vietnam as the pandemic isdeveloping complicatedly in the world.
The minister told themeeting that budget collection completed only 38.2 -percent of the set target,down 9.2 percent year-on-year, the lowest since 2014.
Budget collection isexpected not to meet the estimate set by the legislature, he said, noting inthat case, budget spending at both central and local levels must be reviewed.
Dung said publicinvestment planned for 2020, about 700 trillion VND (30.1 billion USD), must bedisbursed completely, and foreign investment should be increased to spurnational economic growth./.
VNA
