Measures to increase State budget collection vary: official
Multiple solutions could increase State budget collection to make up for the central budget deficit of over 31 trillion VND (1.39 billion USD), said Deputy Minister of Finance Vu Thi Mai.
Multiple solutions could increase State budget collection to make up for the central budget deficit of over 31 trillion VND (1.39 billion USD), said Deputy Minister of Finance Vu Thi Mai at the monthly press conference of the Government in Hanoi on October 29.
She explained that the shortfall mainly stemmed from the plunging prices of crude oil. The Ministry of Finance would direct tax and customs agencies to recover special consumption tax debts, which could reach 34 trillion VND (1.53 billion USD).
Curbing ministries’ and localities’ expenses could help, she said.
From the outset of this year, Prime Minister Nguyen Tan Dung issued a directive asking ministries and localities to reduce their expenditures by 10 percent, she noted.
In the light of the global economic downturn, State budget collection has seen improvements, with domestic collections accounting for 74 percent of the budget collection proportion.
Revenue collection from State-run agencies, foreign investors and domestic manufacturers is increasing, while that of crude oil and import-export is declining, Mai added.
The State budget collection for 2015 is estimated at over 911 trillion VND (nearly 41 billion USD), surpassing the previous year by 16.4 trillion VND (73 million USD).
According to Chairman of the Government Office Nguyen Van Nen, State budget collection should increase by 103 trillion VND (4.6 billion USD) next year to over 1 quadrillion VND (46 billion USD).-VNA
A continuous improvement in domestic revenue collection (excluding collection from crude oil) in the last months of the year will help the country meet the State budget estimates for 2015.
State budget collection for the next five years is expected to make up 20-21 percent of the GDP, Deputy Minister of Finance Do Hoang Anh Tuan said at a meeting of the Ministry’s Party Committee on July 17.
The State budget value for 2015 will rise above expectations by 17.4 trillion VND (790.9 million USD) while the budget deficit is estimated at 31 trillion VND (1.4 billion USD).
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
Illustrative image (Photo: VNA)
