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Payroll streamlining has been implemented, cutting expenses not really necessary – Photo: TRUNG TRUNG
The information is indicated in the evaluation report on the promulgation of the state budget in 2020, the cost estimate state budget and central budget allocation plan for the year 2021; the implementation of the five-year national financial plan 2016-2020 and the guidance of the five-year national financial plan 2021-2025 by the president of the Finance and Budget Committee of the National Assembly Nguyen duc hai Presentation from 10-20 in the afternoon.
Earlier, in reporting on the implementation of the state budget, Finance Minister Dinh Tien Dung said that this year’s budget revenue was estimated at 1,323.1 trillion VND, a loss of 189.2 trillion VND (less than 12.5%) of the estimate. Many revenues did not meet the estimate, such as crude oil taxes, fees and charges, while the tax liability remained high.
Meanwhile, the total budget expenditure was estimated at 1,686.2 trillion dong, 60.89 trillion dong (3.5% less) compared to the estimate. The Government has ordered to reduce many expenses that are not really necessary, strictly control spending, save money, increase financial discipline, concentrate resources to ensure the prevention of epidemics, support people, companies, overcoming the consequences of floods, natural disasters. ..
Therefore, the verification agency said that the government needs to more closely assess the ability to raise the budget, especially by raising money from the sale of state stocks, divesting state capital in economic companies and organizations, and raising crude oil. In order to have the right executive solutions, continue to dramatically lead the implementation of solutions to fight for the highest budget revenue in the remaining months of 2020.
The verification agency also noted that the share of recurring expenses in total budget spending in 2020 remains high (63.4%), and policies to support individuals and businesses during the pandemic have not yet paid off. The organization of the extrabudgetary financial funds has not been drastic …
The advance of public investment capital disbursements was also slow, especially ODA capital, which only reached 24.8% of the estimate until the end of the 9 months. The transfer of public investment capital remains slow and intransigent, the state of capital allocation has not yet been exhausted and is not in compliance with regulations.
In 2020, the budget deficit is estimated at 4.99% of GDP, an increase of 1.55% compared to the estimate, the verification agency of the National Assembly believes that the largest increase is reasonable in the context of epidemics.
However, the budget deficit is likely to increase by 38.5 trillion dong due to the lack of raising money from the sale of state capital in the company, leading to a high budget deficit (about 357.96 trillion of dong). ), equivalent to 5.59% of GDP.
In particular, the public debt ratio continues to increase, although it is estimated that by the end of 2020 it will continue to be below the safety limit, but the Financial Budget Commission asks the Government to pay special attention to the obligation to pay the debt directly. . The government can reach 25% of total budget revenue.
In 2021, the government expects total budget revenue to be 1,343.33 trillion dong, budget spending is 1,687 trillion dong, and overspending is 343.67 trillion dong. northDirect government debt service is estimated to be 25% higher than total budget revenue for 2021.
“It is a sign of danger, which creates risks and reduces national financial security,” the verification agency warned.
Public debt increased, the budget did not have a surplus to repay
