By the end of 2023, total public debt will be equal to 36.07% of GDP

Panorama of the National Assembly session on the afternoon of May 16. Photo: Quochoi.vn

According to Minister Nguyen Van Thang, at the fourth session, the 15th National Assembly passed Resolution No. 69/2022/QH15 dated November 11, 2022 on the state budget estimate for 2023. Accordingly, the total state budget revenue is VND 1,620,744 billion; total state budget expenditure is VND 2,076,244 billion. The state budget deficit is VND 455,500 billion, equivalent to 4.42% of GDP. Total public debt is VND 3,722,699.95 billion, equivalent to 36.07% of GDP.

Implementing the resolutions of the National Assembly, the Government has directed the drastic and synchronous implementation of many solutions to manage and operate budget revenue and expenditure, contributing positively to the completion of socio -economic development goals and tasks. In particular, fiscal policy has been managed proactively, flexibly, promptly, with focus and key points, supporting the removal of difficulties for businesses and people, controlling inflation, promoting economic growth, ensuring social security and people's lives.

Minister of Finance Nguyen Van Thang presents the report. Photo: Quochoi.vn

The state budget revenue exceeding the estimate contributed to offsetting the revenue reduction due to the implementation of policies to support businesses and people, while also providing additional resources to implement the wage reform policy, supplementing investment capital for infrastructure development, and carrying out important and urgent tasks related to national defense and security...

The Government has strengthened inspection and examination work, improved financial and budgetary discipline, and at the same time, strictly managed and controlled loans, debt repayments, government guarantees, and re-lending. The outstanding public debt, government debt, foreign debt of the country, and direct debt repayment obligations of the Government are lower than the prescribed ceiling and warning threshold, contributing to strengthening the national credit rating.

National Assembly delegates attending the afternoon session on May 16. Photo: Quochoi.vn

According to Minister Nguyen Van Thang, although the overall state budget revenue exceeded the estimate, some revenue items, taxes and state budget revenue in some localities were lower than the estimate. Meanwhile, the implementation of the state budget expenditure estimate in some places and at some times was still limited and inadequate, affecting the progress of implementing state budget tasks; the detailed allocation of public investment capital plans in some ministries, central agencies and localities was still slow and prolonged.

Presenting the State Budget Finalization Audit Report for 2023, State Auditor General Ngo Van Tuan said that through auditing the State Budget Finalization Report for 2023 at the Ministry of Finance, the Ministry of Planning and Investment (now the Ministry of Finance) and synthesizing a number of key audit results of audits held in 2024, the State Audit (SA) has recommended increasing revenue and reducing state budget expenditure by VND 16,073 billion; other handling of VND 15,464 billion.

According to Mr. Ngo Van Tuan, the tax authority's revenue management is still limited. Specifically, revenue management for business households is not complete and accurate, and coordination with relevant agencies to revoke business registration certificates for households that have ceased business for more than 6 months as prescribed has not been carried out. At the same time, inspections and audits have not been carried out after tax refunds according to the risk principle and within 5 years as prescribed. Meanwhile, the management of land rent and land use fees still has a situation where the land user has not yet had a land lease decision or land lease contract, and the leased land has not been recovered in cases where there has been a land reclamation decision for many years.

State Auditor General Ngo Van Tuan presents the report. Photo: Quochoi.vn

In addition, at the customs office, there are cases of VAT reduction declaration (2%) for some items that are not in accordance with regulations and cases of inconsistent application of commodity codes. Meanwhile, there are no regulations on the customs office when refunding tax to taxpayers to offset against tax debts of the tax office, leading to many cases where the customs office refunds tax to taxpayers but they still have tax debts to pay under the management of the tax department.

Presenting the State Budget Finalization Audit Report for 2023, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai said that in 2024, the Government and the Prime Minister will continue to resolutely direct, rectify, and strengthen discipline and order in compliance with laws on finance and the State budget.

In addition to the achieved results, the results of the State Audit's final settlement audit show that in a number of ministries, branches and localities, there are still shortcomings and limitations that have lasted for many years in preparing and implementing estimates; the final settlement of the 2023 State budget has not been completely resolved.

Of which, there is still 1 central agency and 5 localities that have not adjusted the settlement data according to the recommendation of the State Audit. Along with that, the situation of adjusting information and data of the State budget settlement after the time of adjusting the State budget settlement has not been resolved.

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"The Government is requested to direct ministries, branches and localities to continue to strictly implement financial and state budget discipline in accordance with legal regulations and resolutions of the National Assembly," Mr. Phan Van Mai emphasized.

Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai presents the report. Photo: Quochoi.vn

Regarding the general handling mechanism for inspection conclusions and recommendations that the State Audit Office cannot implement, the Government has directed a review of recommendations that the State Audit Office cannot implement, dividing them into 4 groups of causes and proposing a number of specific solutions.

However, the Government's proposed solutions for the two groups of causes have not been regulated by law, so there is not enough basis and legal basis for implementation. Therefore, the Committee recommends that the Government continue to direct ministries, branches and localities to review and report full information and data on inspection conclusions and audit recommendations that are no longer feasible due to bankruptcy, dissolution of agencies and units, or death of individuals, loss of capacity to act and other cases of force majeure.

Source: https://hanoimoi.vn/het-nam-2023-tong-so-no-cong-bang-36-07-gdp-702464.html