State budget collection estimated to hit 60.2 billion USD
State budget collection was estimated to reach almost 1.4 quadrillion VND ND (60.2 billion USD) this year, 6 percent higher than the estimate, Minister of Finance Dinh Tien Dung told a teleconference between the government and localities cities in Hanoi on December 28.
Hanoi (VNA) – Statebudget collection was estimated to reach almost 1.4 quadrillion VND ND (60.2 billionUSD) this year, 6 percent higher than the estimate, Minister of Finance DinhTien Dung told a teleconference between the government and localities cities inHanoi on December 28.
Since the beginning of this year,the financial sector has drastically dealt with delayed tax payment, revised upbasic salary, pensions, and subsidies to ex-revolutionaries by 7 percent,tightened discipline in finance-budget in accordance with the Prime Minister’s DirectiveNo.31/CT-TTg.
Spending for development andregular spending accounted for over 27 percent and below 62 percent of thetotal State expenditures, he said.
The minister admitted that the disbursementof investment remained slow. As of December 31, State capital disbursement reachedonly 66.6 percent. The disbursement of capital mobilized from government bonds andofficial development assistance (ODA) capital accounted for nearly 35.5 percentand 40 percent, respectively, he said.
The state budget overspending wasestimated at below 3.6 percent of the country’s gross domestic product (GDP),he said, adding that public debts, government debts and sovereign debts werekept under 61 percent, 52 percent and 49.7 percent of the GDP.
The amount of investments from socialinsurance funds, investment funds and insurers in government bonds increased bynearly 50 percent this year, Dung said.
Regarding the restructuring ofState-owned enterprises, Dung said the State collected 21.6 trillion VND (929million USD) from initial public offerings of 21 businesses and divested 18.3trillion VND (787 million USD).
Dung said the sector will striveto increase State budget collection by 3 percent and raise the proportion of revenuefrom taxes and frees to over 84 percent, cut state budget overspending to below3.6 percent of the GDP and public debts to about 61 percent of the GDP in 2019.
At the same time, it willrearrange and restructure SOEs, and strengthen openness, transparency andrenovate governance of businesses.-VNA
The 12th National Assembly approved the State budget projection for 2019, with an approval rate of 86.19, during its ongoing sixth session in Hanoi on November 9.
The Finance Ministry reported on November 12 that total State budget collection was estimated at 1.12 quadrillion VND in the January-October period, equivalent to 84.9 percent of the yearly estimates, and up 15.1 percent from the same time of 2017.
Total State budget collection from the beginning of the year until November 15 was estimated at 1.16 quadrillion VND (49.78 billion USD), up 16.1 percent as compared to the same period last year.
The National Assembly has issued a resolution on State budget estimates for 2019, in which total State budget collection will likely reach over 1.411 quadrillion VND (60.67 billion USD), while the total spending will hit more than 1.633 quadrillion VND.
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Minister of Finance Dinh Tien Dung (Photo: VNA) 
