Financial sector collected over 1,400 trillion VND (60.2 billion USD) towards
the State budget in 2018 (Source: VNA)
Speaking
at the event, which was also attended by Prime Minister Nguyen Xuan Phuc,
Finance Minister Dinh Tien Dung attributed the result to the ministry’s efforts
to actively implement the budget collection task right from the beginning of
2018, and coordinate closely with other ministries, sectors, and local
authorities to intensify collection management.
Thanks to the positive result of budget collection, budget spending tasks were
ensured, thus meeting the political and economic task requirements of units
using the budget and helping solve arising issues related to investment in
socio-economic infrastructure, overcome disaster consequences, and ensure social
welfare and defence-security.
The structure of budget spending was shifted to the right track, Dung said,
adding that the proportion of spending for development investment surpassed 27
percent, and regular spending was below 62 percent of the total expenditure.
The state budget overspending was estimated at below 3.6 percent of the
country’s gross domestic product (GDP), and public debts kept under 61 percent
of the GDP, he stated.
The minister acknowledged slow changes in the disbursement of investment for
basic construction works. As of December 31 last year, disbursement was equal to
67.6 percent of the estimate, even lower than the figure of 70.7 percent of
2017.
In 2019, the sector will continue administrating fiscal policy closely in line
with monetary policy and other macro policies, working to boost production and
business development, and implementing budget restructuring functions, Dung
said.
It will intensify the fight against transfer pricing, trade frauds, and tax
evasion; step up taxation inspections; and solve tax debts so as to reduce the
rate of such debts to below 5 percent of the total State budget collection.
Attention will also be paid to speeding up administrative reform, and cutting
down unnecessary administrative procedures and business conditions, he added.
Source: VNA