Update news state budget
The Government plans to borrow over VND1.7 quadrillion ($73.2 billion) in 2021-2023 to meet the capital demand for socio-economic development, according to the public debt management plan for the next three years approved last week.
As many as 117 State agencies, including 34 ministries, 63 provinces and cities, and 20 state-owned corporations saved more than VND84,635 billion, including VND50,628 billion for the state budget last year.
According to Minister of Finance Dinh Tien Dung’s latest report delivered recently at the National Assembly (NA), Vietnam achieved most of its financial goals in the last four years, including for 2020.
More than VND1.48 quadrillion (US$64.2 billion) was collected for the State budget in 2020, equivalent to 98 per cent of the target, according to the Ministry of Finance.
The Ministry of Finance has announced the State budget estimates for 2021, which target over VND1.34 quadrillion ($58.2 billion) in State budget revenue.
The Ministry of Planning and Investment (MPI) is planning to name a list of eight border economic zones on priority for investment in 2021-2025, or one zone lower than the 2016-2020 period.
The public debt to GDP ratio has been controlled well and has decreased in recent years. But the public debt repayment to budget revenue ratio has steadily increased because of many due debts.
State auditors have found incorrect application of land rent remission policy in some provinces that did not adjust land rents after the rent stabilization period expired.
The government’s report on public debt in 2020 and estimates in 2021 show remarkable figures about the national debt.
Around $108.7 million sourced from the State budget, private donors and Ha Long Bay’s entrance fees will be invested this year in building 57 new pieces of infrastructure in Ha Long city, the northern province of Quang Ninh.
The 14th National Assembly continued its ninth session on June 13 with the discussion on the supplementary assessment of the implementation of the NA resolution on the socio-economic development plan and State budget in 2019 and early 2020.
The Government should take the initiative in building short- and long-term scenarios for socioeconomic development and review major targets of the economy for 2020 and 2016-2020, which will be the basis for adjusting targets,
Nineteen State-owned groups and corporations expect to incur losses of some VND26 trillion (US$1.1 billion) this year due to the coronavirus crisis.