Finance Minister Dinh Tien Dung (Photo: VNA)Hanoi (VNA) – The Government will keep State budget overspendingnot to exceed 3.5 percent of GDP and less than 178 trillion VND (7.8 billionUSD) as set by the National Assembly (NA), said Finance Minister Dinh Tien Dung.
At the fourth sitting of the 14th NA on November 1, he said budgetoverspending has been curbed for the first time over the past decade, adding thatthe Government plans to adjust its proposal of budget overspending of 3.7percent of GDP in 2018 to 3.6 percent and at 3.4 percent in 2020.
The move is hoped to maintain public debt ratio at 63.9 percent of GDP, whichis within the legislature’s limit, he said.
Dung said domestic budget collection has expanded by 83.3 percent and thenumber is projected to climb to 85 percent in 2020.
The Government is calling on ministries, agencies and localities to practicethrift, the minister stressed.
Dung reported that as of September 30, 2017, tax debts totaled 73.9 trillionVND (3.25 billion USD), of which more than 27.6 trillion VND (1.2 billion USD)or 37.4 percent of the amount was recoverable.-VNA
VNA
