Online conference to review financial work

Right from the beginning of the year, the financial sector has been determined, striving, focusing on fully and synchronously implementing the proposed financial and budgetary solutions, proactively and flexibly operating fiscal policies, supporting the economy , removing difficulties for businesses and people, and recovering and developing the socio -economy.

Online conference to review the state financial and budget work in the first 6 months of the year

Delegates attending at Thanh Hoa bridge point.

On the morning of July 13, the Ministry of Finance held an online conference to review the state financial and budget work in the first 6 months of the year and deploy state financial and budget tasks for the last 6 months of 2023. Deputy Prime Minister Le Minh Khai attended and directed the conference.

Attending at Thanh Hoa bridge point were comrade Nguyen Van Thi, member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee; and representatives of leaders of relevant departments, branches and units.

In the context of many difficulties and challenges, since the beginning of the year, the financial sector has been determined, striving, focusing on fully and synchronously implementing the proposed financial and budgetary solutions, proactively and flexibly operating fiscal policies, supporting the economy, removing difficulties for businesses and people, recovering and developing the socio-economy. Strengthening the management of budget revenue and expenditure; strictly controlling the State budget deficit and public debt within the scope permitted by the National Assembly; controlling prices and markets; tightening financial discipline, contributing significantly to the implementation of socio-economic development tasks in 2023, maintaining economic stability, controlling inflation, ensuring major balances of the macro-economy.

State budget revenue in the first 6 months of 2023 reached VND 875.8 trillion, equal to 54% of the estimate; State budget expenditure is estimated at VND 804.6 trillion, equal to 38.8% of the estimate. The balance of the central budget and local budgets is ensured. Accumulated to June 30, 2023, VND 179.9 trillion of government bonds have been issued, with an average term of 12.23 years, and an average interest rate of 3.7%/year.

The financial sector has promptly taken corrective measures and strengthened State management to stabilize and synchronously develop the stock and corporate bond markets; issued policies to reduce taxes and fees to help curb the growth momentum and stabilize prices and markets in line with the economic situation, remove difficulties, and promote production and business.

Public debt safety indicators are strictly controlled, ensuring national finance is safe, sustainable and macroeconomically stable. At the same time, synchronously deploy solutions to continue restructuring public debt; issue long-term government bonds. Fully and timely repay debts as committed.

Along with the above achievements, the Ministry of Finance has focused on price and market management in accordance with the actual situation, removing difficulties for production and business, controlling inflation, stabilizing people's lives. Strengthening State management of the stock market, corporate bonds, and insurance.

Thanks to the results achieved in the process of economic and social recovery and development, Vietnam has been continuously rated with a "Stable Outlook" by all three credit rating agencies, S&P, Moody's and Fitch. These are positive signals, affirming the high appreciation of international organizations for the resilience and adaptability of the economy and the issuance and implementation of flexible, creative, timely and effective policies by the Government.

Appreciating the efforts of the financial sector, Deputy Prime Minister Le Minh Khai suggested continuing to analyze, forecast timely, the situation, and have solutions suitable to the practical situation. At the same time, focus on handling difficulties and obstacles in mechanisms, policies, and reasonable policy expansion; effectively implement issued fiscal and monetary policies. Be determined in balancing the State budget revenue and expenditure. Continue solutions to operate and stabilize prices in the market; apply digital transformation in tax management for food services.

The financial sector is requested to continue studying fiscal policies, especially on taxes and fees, to submit to competent authorities to facilitate, remove difficulties, and promote production and business. Effectively coordinate fiscal policies with monetary policies; coordinate with relevant ministries, branches and agencies to focus on timely implementing key solutions on fiscal policies and monetary policies. Focus on reviewing "barriers" that affect production and business activities, mobilizing and investing all resources for the country's sustainable development. Review and reduce administrative procedures. Propose, amend and complete legal documents; complete the legal framework for digital economic development, new economic models, application of digital transformation of e-commerce, digital applications in providing public services and handling administrative procedures, etc.

Online conference to review the state financial and budget work in the first 6 months of the year

Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi spoke at the Thanh Hoa province bridge after the national online conference.

Immediately after the conclusion of Deputy Prime Minister Le Minh Khai, speaking after the conference at Thanh Hoa bridge, Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi requested relevant departments and branches to exploit revenue sources and revenue sources arising in the area. Well perform the task of administrative reform, improve the investment environment; promote the prevention and fight against corruption, waste, etc. Strive to exceed the growth target set for 2023.

At the same time, inspect and evaluate the implementation, promptly remove difficulties and obstacles; review and arrange spending tasks, minimize unnecessary spending; effectively implement thrift practices and combat waste in state agencies and the whole society; prioritize resources for important tasks...

Khanh Phuong

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