Public debt per capita in 2020 is more than 35 million VND/person

On the afternoon of May 23, continuing the program of the 3rd session, the 15th National Assembly, presenting the state budget settlement report for 2020 to consult the National Assembly for consideration and approval, Minister of Finance Ho Duc Phuc Based on the reported contents, the Government submits to the National Assembly for consideration and approval the final settlement of state budget revenues and expenditures in 2020: total budget revenue is 2.27 million billion VND, total expenditures the budget balance is 2.35 million billion VND. The final settlement of the state budget deficit is VND 216,405 billion, lower than the overspending level approved by the National Assembly of VND 368,300 billion.

Public debt per capita in 2020 is more than 35 million VND/person - Photo 1.

State Auditor General Tran Sy Thanh

The Minister of Finance assessed that the allocation and use of the budget had many innovations when the investment expenditure for development had reached over VND 2.2 million billion (the plan was VND 2 million billion). Prioritize the implementation of major policies and orientations on social security and poverty lines, ensuring many important areas. Thanks to the control of state budget deficit and restructuring public debt , the public debt ratio has dropped sharply from 63.7% of GDP at the end of 2016 to 55.2% of GDP at the end of 2020; debt maturity is extended, mobilization costs are reduced, and national financial safety and security are strengthened, helping to create room to support economic growth, ensure social security, and respond promptly to the pandemic. sick.

In the state budget finalization audit report for 2020 presented later, State Auditor General Tran Sy Thanh noted that the budget revenue estimation was not close to the revenue potential, especially the revenue from historical records. For land use, the estimate is only 72% of the actual estimate or the VAT refund estimate is not close, so the amount to be refunded exceeds the estimate.

The cost estimate for development investment must also be adjusted 3 times in terms of the capital plan. There are still cases where the allocation of capital plans is slow, adjusted many times, not in accordance with regulations, not enough, or even not arranged, to pay for a number of completed projects.

As for the status of allocation of recurrent expenditure estimates, the basis is not enough, not allocating all the estimates according to regulations. Meanwhile, some revenues from production and business were short, revenues from state-owned enterprises only reached 37.1% of the estimate.

Regarding public debt, the audit report shows that public debt balance as of December 31, 2020 is more than 3.52 million billion VND, an increase of 6.02% compared to 2019, equal to 55.94% of GDP (below the level of GDP). ceiling of 65% of GDP) Public debt per capita is 35.1 million VND/person and tends to increase over the years (in 2018 it was 31.69 million VND/person; in 2019 it was 33.62 million VND/person) )”- assessment audit agency.

According to Van Duan – The Dung

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