Submit to the National Assembly for consideration and approval of the 2023 State Budget settlement

Minister of Finance Nguyen Van Thang presents the State budget settlement report for 2023

On the afternoon of May 16, under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly worked in the hall, listening to the State budget settlement report for 2023.

The 2023 State Budget Finalization Report presented by Minister of Finance Nguyen Van Thang stated that in 2023, in the context of many difficulties and challenges, fiscal policies were proactively and effectively managed, synchronously with monetary policies and other macroeconomic policies, promptly removing difficulties for businesses and people, promoting economic and social recovery and development.

Thanks to that, the macro economy is stable, GDP growth for the whole year reached 5.05%, although lower than the set plan (6.5%), it is still a bright spot compared to other countries in the region and the world; inflation is controlled; national defense and security are maintained; social security and social welfare policies are guaranteed.

The estimated state budget revenue in 2023 is VND 1,620,744 billion; the final settlement is VND 1,770,776 billion, an increase of VND 150,032 billion (9.3%) compared to the estimate. Of which, the central budget revenue is VND 927,511 billion, an increase of VND 63,944 billion (7.4%) compared to the estimate; the local budget revenue is VND 843,265 billion, an increase of VND 86,088 billion (11.4%) compared to the estimate.

The rate of mobilization into the state budget reached 17.2% of GDP; revenue from taxes, fees and charges alone reached 14% of GDP.

Regarding the final settlement of state budget expenditures, the estimate is 2,076,244 billion VND; the final settlement is 1,936,912 billion VND, including the expenditures transferred from the previous year's source according to regulations; a decrease of 139,332 billion VND (6.7%) compared to the estimate. Of which, the final settlement of central budget expenditures is 697,112 billion VND, equal to 83.9% of the estimate; the final settlement of local budget expenditures is 1,239,800 billion VND, equal to 99.6% of the estimate.

Regarding the state budget deficit, the estimated state budget deficit is VND 455,500 billion, equal to 4.42% of GDP; the final settlement is VND 291,564 billion, equal to 2.83% of realized GDP, down VND 163,936 billion (36%) compared to the estimate.

In addition, public debt indicators in 2023 are within the limits allowed by the National Assembly.

According to the Minister of Finance, the state budget revenue exceeding the estimate contributes 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 implementing important and urgent tasks related to national defense and security...

The management of state budget revenue is strengthened, modernization is promoted, information technology is applied, and digital transformation in state budget revenue is promoted. State budget expenditure is strictly managed, regular expenditure is thoroughly saved right from the beginning of the year's budget estimate and during the operation process, and priority is given to increasing development investment expenditure right from the budget arrangement stage.

Strictly managed and controlled loans, debt repayments, government guarantees and re-lending. The country's public debt, government debt, foreign debt and direct debt repayment obligations of the government are lower than the prescribed ceiling and warning threshold, contributing to strengthening the national credit rating.

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. 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.

Disbursement of development investment expenditure and national target programs of some ministries, central and local agencies is still slow; the practice of thrift, anti-waste, and compliance with financial discipline in some places is not strict. Some ministries, central and local agencies prepare, review and submit the state budget settlement later than prescribed...

Chairman of the Economic and Financial Committee Phan Van Mai presented the Report on the audit of the State budget settlement in 2023.

Presenting the 2023 State Budget Finalization Audit Report, Chairman of the Economic and Financial Committee Phan Van Mai stated 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 audit show that in a number of ministries, branches and localities, there are still many long-standing shortcomings and limitations in the preparation, implementation and finalization of the 2023 state budget that have not been completely resolved...

Therefore, it is recommended that the Government direct ministries, branches and localities to continue to strictly implement financial and state budget discipline in accordance with legal provisions and Resolutions of the National Assembly.

Ministries, branches and localities shall study and re-evaluate the preparation of estimates, allocation and organization, implementation and disbursement of annual state budget expenditures to improve the quality of preparation and implementation of state budget expenditure estimates to ensure economical and effective use of state budget resources...

Based on the proposal of the Government and the State Audit, the Economic and Financial Committee submits to the National Assembly for consideration and approval of the 2023 State budget settlement as follows: Approving an additional VND 16,655 billion in the 2023 State budget revenue estimate; approving the 2023 State budget settlement according to the proposal of the Government and the State Audit.

Thu Giang

Source: https://baochinhphu.vn/trinh-quoc-hoi-xem-xet-phe-chuan-quyet-toan-ngan-sach-nha-nuoc-nam-2023-1022505161702539.htm