Finance Minister Dinh Tien Dung at the event (Photo: VNA) Hanoi (VNA) – Finance Minister DinhTien Dung presented a report proposing the National Assembly’s approval of the2017 State budget balance during the seventh session of the 14th NAin Hanoi on May 20.
Dung said 2017 was the second year of theimplementation of Resolution by the 12th National Party Congress andthe 2016-2020 socio-economic development plan, and the first year to enforcethe Law on State Budget 2015 and realise the Politburo’s Resolution No.07/NQ-TWdated November 18, 2016 on restructuring State budget, managing public debtsand ensuring safe and sustainable national finance.
Thanks to the entire political system,business community and people nationwide, most socio-economic targets were met orsurpassed. Gross domestic product (GDP) grew by 6.81 percent in 2017, a recordsince 2011. Trade surplus hit 2.9 billion USD while inflation was kept undercontrol.
The State budget income was 1.29 quadrillionVND, rising by 6.7 percent over the estimate, thanks to higher income from landuse, export-import and crude oil taxes.
Meanwhile, expenditure surpassed 1.35quadrillion VND, or 97.5 percent of the estimate. Of the figure, some 564.5trillion VND was spent by central units (equal to 95.1 percent of the estimate)and the remaining of 790.5 trillion VND by localities (equal to 99.2 percent ofthe estimate).
Delivering an audit report on State budget settlementin 2017, State Auditor General Ho Duc Phoc said the State Audit Office (SAO) suggestedmeasures to increase revenue to the tune of 19.8 trillion VND and cut expensesby more than 23.7 trillion VND.
It transferred five cases to investigative police, and proposed amendments,supplements or removal of 160 documents that are no longer conformity to legalregulations and the reality to prevent wastefulness.
He admitted shortcomings remain in the useand management of public assets, including low occupancy in economic zones (EZs)at only 13 percent due to projects’ slow progress and limited incentives incoastal EZs.
Via audits of nine programmes and 23projects using Official Development Assistance (ODA) and soft loans, the SAO suggestedhandling over 21.7 trillion VND.
Eight projects under build-operate-transfer (BOT)model were found to commit violations in the appointment of investors andcontractors, as well as total investment calculation.
Seven other projects under the build-transfer(BT) model violated the Land Law and the SAO proposed handling over 2.9trillion VND.
As of December 31, 2018, as much as 66.5trillion VND were asked to be handled, or 73.2 percent of the total.
Also at the event, Chairman of the NA’s Finance and BudgetCommittee Nguyen Duc Hai presented a report reviewing the State budgetsettlement 2017.-VNA
Dung said 2017 was the second year of theimplementation of Resolution by the 12th National Party Congress andthe 2016-2020 socio-economic development plan, and the first year to enforcethe Law on State Budget 2015 and realise the Politburo’s Resolution No.07/NQ-TWdated November 18, 2016 on restructuring State budget, managing public debtsand ensuring safe and sustainable national finance.
Thanks to the entire political system,business community and people nationwide, most socio-economic targets were met orsurpassed. Gross domestic product (GDP) grew by 6.81 percent in 2017, a recordsince 2011. Trade surplus hit 2.9 billion USD while inflation was kept undercontrol.
The State budget income was 1.29 quadrillionVND, rising by 6.7 percent over the estimate, thanks to higher income from landuse, export-import and crude oil taxes.
Meanwhile, expenditure surpassed 1.35quadrillion VND, or 97.5 percent of the estimate. Of the figure, some 564.5trillion VND was spent by central units (equal to 95.1 percent of the estimate)and the remaining of 790.5 trillion VND by localities (equal to 99.2 percent ofthe estimate).
Delivering an audit report on State budget settlementin 2017, State Auditor General Ho Duc Phoc said the State Audit Office (SAO) suggestedmeasures to increase revenue to the tune of 19.8 trillion VND and cut expensesby more than 23.7 trillion VND.
It transferred five cases to investigative police, and proposed amendments,supplements or removal of 160 documents that are no longer conformity to legalregulations and the reality to prevent wastefulness.
He admitted shortcomings remain in the useand management of public assets, including low occupancy in economic zones (EZs)at only 13 percent due to projects’ slow progress and limited incentives incoastal EZs.
Via audits of nine programmes and 23projects using Official Development Assistance (ODA) and soft loans, the SAO suggestedhandling over 21.7 trillion VND.
Eight projects under build-operate-transfer (BOT)model were found to commit violations in the appointment of investors andcontractors, as well as total investment calculation.
Seven other projects under the build-transfer(BT) model violated the Land Law and the SAO proposed handling over 2.9trillion VND.
As of December 31, 2018, as much as 66.5trillion VND were asked to be handled, or 73.2 percent of the total.
Also at the event, Chairman of the NA’s Finance and BudgetCommittee Nguyen Duc Hai presented a report reviewing the State budgetsettlement 2017.-VNA
VNA
