Tax support measures amount to 191 trillion VND in 2024
Measures to alleviate difficulties for enterprises and citizens in 2024 proposed by the Ministry of Finance including tax and fee reduction and exemption represented an estimated value of 191 trillion VND (7.49 billion USD), the ministry reported on December 31.
A state budget collection point at a Vietcombank office. (Illustrative photo: VNA)
Hanoi (VNA) 🃏– Measures to alleviate difficulties for enterprises and citizens in 2024 proposed by the Ministry of Finance including tax and fee reduction and exemption represented an estimated value of 191 trillion VND (7.49 billion USD), the ministry reported on December 31.
The national economy has seen strong recovery and balances are in check, as reported at the ministry’s December 31 conference to review the 2024 financial and state budget performance and deploy tasks for 2025.
In 2024, the economic growth rate reached approximately 7%, exceeding the National Assembly's target of 6-6.5%, positioning Vietnam among the few countries achieving high growth rates in the region and the world.
The total state budget revenue exceeded 2.025 quadrillion VND, up by 19.1% from the year’s projection and 15.5% from 2023. By year-end, public debt accounted for 36-37% of GDP and government debt 33-34%, well below the ceiling approved by the legislative body.
The ministry implemented an action programme to advance the safe and sustainable development of the securities market development to 2030.
Between January and December, the stock market fluctuated, but showed an overall recovery trend compared to the previous year. On December 27, the VN-Index stood at 1,275.14 points, a 12.9% increase from the end of 2023. Stock market capitalisation approached 7.2 quadrillion VND, and the average transaction value hit 21.1 trillion VND per session, up 21.2% and 19.9% year-on-year.
Notably, the bond market experienced a strong rebound, with 96 enterprises issuing private bonds totaling 396.7 trillion VND, an annual rise of 33.6%./.
As 2024 draws to a close, Vietnam’s economy is nearing the finish line of its annual targets, and continued efforts are needed to secure the best possible outcomes.
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