(CPV) - Deputy Prime Minister and Minister of Finance Ho Duc Phoc emphasized that monetary policy was managed proactively, promptly, flexibly and effectively; fiscal policy was implemented in an open and reasonable manner, so the results achieved in the past time were good.
On the afternoon of November 11, Deputy Prime Minister and Minister of Finance Ho Duc Phoc reported and explained related issues raised at the question and answer session on the first group of issues in the banking sector.
Reporting and explaining the coordination of monetary and fiscal policies, Deputy Prime Minister and Minister of Finance Ho Duc Phoc said that monetary and fiscal policies are the driving forces of economic development. However, when the economy increases or decreases, it will be directly related to and directly affect the system of credit institutions, banks, the state budget and the management of monetary and fiscal policies.
“The management of monetary and fiscal policies in the past time has been very good and reasonable,” the Deputy Prime Minister emphasized. Specifically, monetary policies have been managed proactively, promptly, flexibly and effectively; fiscal policies have been implemented in an open and reasonable manner, so the results achieved in the past time have been good, with budget revenue increasing sharply, each year higher than the previous year.
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| Deputy Prime Minister and Minister of Finance Ho Duc Phoc reported and explained at the question and answer session. |
Implementing monetary policy, we have reduced taxes for businesses and people by nearly 800 trillion; we have maintained the exchange rate between the US dollar and the Vietnamese dong; handled two zero-dong banks and are preparing to handle two more zero-dong banks and stabilized the system, serving the economy very well.
Regarding the management of gold invoices and the gold market, the Deputy Prime Minister stated that, regarding the management of gold invoices, implementing Decree 123 dated October 9, 2020 of the Government and Circular 78 dated May 2, 2003, the Ministry of Finance regularly directs tax authorities to issue 05 documents to guide tax declaration and payment, so the management of invoices of gold selling enterprises and gold selling shops does not have any difficulties or problems.
Regarding the delegates’ questions regarding the handling issue, some market management delegations inspected and temporarily suspended them because they could not prove the source of the raw materials. The Deputy Prime Minister emphasized that we only handle cases when we discover smuggled gold; if we cannot prove that the gold is smuggled, we have no right to handle the gold shops.
Deputy Prime Minister Ho Duc Phoc said that the State Bank is currently amending Decree 24, focusing on import and export, and gold trading. Tax incentives are provided to develop domestic goods, creating conditions for importing input materials for production; when sold, creating conditions for exporting jewelry.
Regarding the issue of gold management raised by the delegates, the Deputy Prime Minister said that there was a situation where gold bars increased by 18 million/tael (25% compared to the world gold price), the reason being the high world gold price, high psychology and demand, frozen real estate, difficult production and business, risky individual corporate bonds... gold became a shelter for idle money.
Regarding the upcoming solutions, the Deputy Prime Minister said that the Government has directed that buying and selling must be carried out in a legal and transparent manner. At the same time, information technology must be applied to manage gold companies and stores; continue to strongly fight smuggling; promote production and business; promote the development of the capital market...
“Gold is now not a measure of currency. However, gold is still a precious metal and also a shelter for idle money, so we will strictly manage this sector" - the Deputy Prime Minister emphasized./.
Source: https://dangcongsan.vn/thoi-su/dieu-hanh-chinh-sach-tai-khoa-va-tien-te-hop-ly-hieu-qua-682890.html
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