Fiscal deficit to stay at 4 pct. of GDP next year: MoF
The Ministry of Finance has announced the State budget estimates for 2021, which target over 1.34 quadrillion VND (58.2 billion USD) in State budget revenue.
Hanoi (VNA) - The Ministry of Finance has announced the Statebudget estimates for 2021, which target over 1.34 quadrillion VND (58.2 billionUSD) in State budget revenue.
Of the amount, more than 1.13 quadrillion VND is expected to be sourcedfrom domestic collections, 23.2 trillion VND from sales of crude oil, 178.5trillion VND from imports and exports, and 8.13 trillion VND from foreignfinancial assistance, according to the ministry’s newly-released decision.
State budget spending next year is projected to near 1.69 quadrillionVND, including more than 1.03 quadrillion VND in recurrent expenditures, 477.3trillion VND for development investment, 110.06 trillion VND in interestpayments, 1.6 trillion VND in aid disbursement, 25.5 trillion VND on wagereform and payroll reductions, and 34.5 trillion VND for State budget reserves.
The fiscal deficit is expected to be 343.67 trillion VND, or 4 percentof GDP. The figure comprises 318.87 trillion VND for the central government and24.8 trillion VND for local administrations.
To fulfil the 2021 estimates, the Ministry of Finance plans to furtheraccelerate public administrative reform, improve the business climate, and practicefrugality to maintain the sustainability and security of the national finances./.
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Illustrative photo. (Source: VNA)
