State budget collection up 4.5% in 2023
The total revenue to the State budget as of December 25 surpassed VND1.69 quadrillion (nearly US$69.5 billion), up 4.5% compared to the yearly estimate, heard a conference hosted by the Ministry of Finance in Hanoi on December 27.
According to Deputy Minister of Finance Nguyen Duc Chi, the total State budget expenditure in the year reached about VND1.73 quadrillion or 83.4% of the estimate. The spending for investment and development was equivalent to 79.8% of the estimate decided by the National Assembly, and 81.9% of the plan assigned by the Prime Minister.
The budget balance at all levels is guaranteed as of December 25,
According to Deputy Minister of Finance Nguyen Duc Chi, the total State budget expenditure in the year reached about VND1.73 quadrillion or 83.4% of the estimate. The spending for investment and development was equivalent to 79.8% of the estimate decided by the National Assembly, and 81.9% of the plan assigned by the Prime Minister.
The budget balance at all levels is guaranteed. As of December 25, VND296.7 trillion worth of Government bonds had been issued, equal to 74.2% of the yearly plan, with an average interest rate of 3.21% per year.
The Ministry of Finance said it will continue to operate a flexible fiscal policy, thus contributing to stabilising macro-economy, speeding up the implementation of important infrastructure investment projects, and creating a foundation to promote economic growth.
It will also focus on strictly managing State budget expenditures; improving the efficiency of management, allocation, and use of state budget. More plans include tightening financial discipline, promoting restructuring of State budget spending, and tightly controlling State budget deficits, public debt, and contingent debt obligations.
VND296.7 trillion worth of Government bonds had been issued, equal to 74.2% of the yearly plan, with an average interest rate of 3.21% per year.
The Ministry of Finance said it will continue to operate a flexible fiscal policy, thus contributing to stabilising macro-economy, speeding up the implementation of important infrastructure investment projects, and creating a foundation to promote economic growth.
It will also focus on strictly managing State budget expenditures; improving the efficiency of management, allocation, and use of state budget. More plans include tightening financial discipline, promoting restructuring of State budget spending, and tightly controlling State budget deficits, public debt, and contingent debt obligations.
