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Submitting to the National Assembly overspending 3.44% of GDP, settling expenses that are not in accordance with regulations, “reminding” the name of the Ministry of Transport

Minister Ho Duc Phuc submits to the National Assembly that the 2020 state budget deficit is equal to 3.44% of GDP

Accordingly, Minister Ho Duc Phuc submitted to the National Assembly for consideration and approval of the final settlement of state budget revenues and expenditures in 2020 with a total balance of state budget revenues of VND 2,279,735.6 billion, of which state budget revenue is estimated at 1,510 .579.2 billion VND, revenue from source transfer from 2019 to 2020 is 592,648.8 billion VND, revenue from 2019 balance is 173,819.1 billion VND and revenue from financial reserve fund according to the provisions of the State Budget Law is 2,688 , 5 billion dong.

Total state budget balance expenditure is 2,352,929.8 billion dong, of which state budget expenditure is estimated at 1,709,523.7 billion dong, expenditure for transferring sources to 2021 is 643,406,1 billion dong.

State budget deficit is 216,405.6 billion VND, equal to 3.44% of GDP, including: Central budget deficit is 213,088.6 billion VND, local budget deficit is 3,317 billion VND.

Submitting to the National Assembly for overspending by 3.44% of GDP, allowing settlement of expenses that are not in accordance with regulations,

Minister Ho Duc Phuc submitted to the National Assembly for consideration and approval of the 2020 state budget deficit equal to 3.44% of GDP. (Photo: QH)

Referring in detail to the final settlement of state budget revenue in 2020, the Minister said that the 2020 estimate is VND 1,539,052.8 billion; settlement is 1,510,579.2 billion dong, down 1.9% (28,473.6 billion dong) compared to the estimate. In which, central budget revenue decreased by 92,076.6 billion VND, local budget revenue increased by 63,603 billion VND.

Specifically, the estimated domestic revenue is 1,290,776.5 billion VND; settlement of 1,293,728.3 billion dong, up 0.2% (2,951.9 billion dong) compared to the estimate. The main reason is the increase in revenues from housing and land, from lottery activities and other revenues from the state budget; the proportion of domestic revenue reached 85.6%, increasing compared to previous years.

Tax debt as of December 31, 2020 is 99,074 billion VND, down 0.63% (631 billion VND) compared to 2019.

Crude oil revenue: Estimated is 35,200 billion VND; settlement is 34,598.5 billion dong, down 1.7% (601.5 billion dong) compared to the estimate. The average payment price of crude oil reached 45.7 USD/barrel, down 14.3 USD/barrel compared to the estimated price; payment output reached 9.56 million tons, an increase of 540 thousand tons compared to the estimate.

For the balance income from import-export activities: Estimated is 208,000 billion VND; settlement is 177,444 billion dong, down 30,556 billion dong compared to the estimate.

Minister Ho Duc Phuc said that in 2020, although the total import and export turnover reached 545.4 billion USD, an increase of 5.35% compared to 2019, however, the import and export turnover of taxable goods decreased by 12 9% compared to the estimate (some imported products with large revenue decreased sharply such as complete cars, iron and steel, machinery, equipment, tools, spare parts, chemicals…), reducing cashiers books in this area compared with estimates. The actual value-added tax refund amount is 137,019.3 billion VND, an increase of 7,019.3 billion VND compared to the estimate.

Regarding the implementation of state budget collection policies to support businesses and people to cope with the Covid-19 pandemic:

Implementing the Party’s policy, the Resolution of the National Assembly, and the National Assembly Standing Committee, in 2020, the Government has exempted and reduced tax obligations and a number of state budget revenues, with a total of 16,307 billion VND. .

In addition, tax extension has been extended for 187,367 taxpayers in some business sectors heavily affected by the Covid-19 epidemic with an amount of VND 97,259 billion.

Regarding the results of tax debt settlement in 2020 according to Resolution No. 94/2019/QH14 dated November 26, 2019 of the National Assembly, Pursuant to the Resolution of the National Assembly, in 2020, tax authorities at all levels have frozen tax debt. for 493,472 taxpayers with a total amount of VND 23,434 billion; implementing the debt cancellation of late payment fines and late payment interest for 62,278 taxpayers with a total amount of VND 1,553 billion.

Accordingly, by the end of December 31, 2020, the total amount of tax debt that can no longer be recovered is VND 27,513 billion, down VND 16,658 billion (equivalent to a decrease of 37.7%) compared to the time of December 31, 2019. , accounting for 27.8% of the total tax debt.

Regarding the state budget expenditure estimate, the Minister of Finance informed that the 2020 estimate is 1,773,766.2 billion VND; final settlement is 1,709,523.7 billion VND, equaling 96.4% (decreased 64,242.5 billion VND) compared to the estimate.

In which, the final settlement of the central budget is 647.851.1 billion VND, equal to 90% of the estimate; final settlement of local budget expenditure is 1,061,672.6 billion VND, equaling 100.7% of the estimate.

Submitting to the National Assembly for overspending by 3.44% of GDP, allowing settlement of expenses that are not in accordance with regulations,

Overview of the 15th National Assembly session, the 3rd session on May 23. (Photo: QH)

Clarifying the responsibilities of ministries, branches and localities in the preparation and implementation of state budget estimates are not strict

Presenting the report on verification of the state budget settlement in 2020, Deputy Chairwoman of the Finance and Budget Committee of the National Assembly Nguyen Thi Phu Ha said that, in addition to the achieved results, in the implementation of the task of state budget collection in 2020, there are still achievements. there are still some shortcomings and limitations that need attention, such as: Central budget revenue did not meet the estimate, accounting for nearly 52.1% of total state budget revenue, lower than the set target (60-65%), gradually reducing the role the main role of the central budget; Mobilization from taxes and fees only reached 19.1% of GDP, lower than the set target of 21% of GDP; The estimation of land use levy collection of localities for many years is not close to the collection capacity, much lower than that of the previous year.

The Finance and Budget Committee of the National Assembly suggested that the Government should evaluate and clarify the above shortcomings and limitations, especially for the preparation of annual land use levy collection estimates that are not close to, leading to Due to large revenue overruns, it is advisable to build and inadequately balance these excess revenues, leading to passive management and administration of the medium-term and annual investment plans, failing to bring into full play the investment efficiency from this revenue.

Submitting to the National Assembly for overspending by 3.44% of GDP, allowing settlement of expenses that are not in accordance with regulations,

The Finance and Budget Committee of the National Assembly proposed to the National Assembly for permission to finalize a number of expenditures that were not in accordance with regulations. (Photo: TN)

Regarding budget expenditure, the Finance and Budget Committee of the National Assembly suggested that the Government also pay special attention to expenditures on transferring state budget sources. Accordingly, the National Assembly has issued many Resolutions requesting to strengthen financial discipline and improve the efficiency of using the state budget; strongly reduce source transfer, local budget surplus.

However, the amount of expenditure transferred from source in 2020 continued to be quite large, increasing higher than the previous year. With the amount of expenditure transferred and the balance of local budget in 2020 too large, more than 1.8 times the total loan amount of the state budget in 2020.

The Finance and Budget Committee of the National Assembly proposed the Government need to clarify the responsibilities of ministries, branches and localities in the preparation and implementation of state budget estimates that are not strictly, leading to large source transfers.

At the same time, it is recommended that the Government and the State Audit continue to review information and data on transfer of sources, especially paying attention to the amount transferred from investment sources, only transferring the capital amount of the investment plan in 2019 and 2020. and expenditures approved by the National Assembly and the Standing Committee of the National Assembly to be extended to 2021 and the following years; recover the entire amount of capital transferred from the investment capital plan in 2018 and earlier and other improper transfers in accordance with the provisions of the Law on Public Investment, the Law on State Budget..

Also in the verification report, the Finance and Budget Committee of the National Assembly asked the National Assembly to allow the finalization of a number of expenses that were not in accordance with regulations, including: VND 19 billion of non-business funding sources – roads. Ministry of Transport’s adjustment, appraisal and synthesis of final settlement is slow, not on time as prescribed by the Law on State Budget.

Amount of misuse of investment sources (from revenue land use levy and lottery collection) have arranged to increase recurrent expenditure according to the data of localities that have approved the settlement; request localities in the estimate and finalization of local budgets in the following years to arrange for a full refund of land use levy and regular lottery collection to arrange for the implementation of investment expenditure tasks in accordance with regulations. determined.

Transfer the source of 858,226 billion VND of the central budget reserve in 2019 to 2021 according to the actual amount disbursed until December 31, 2021; cancel 291,968 billion dong of undisbursed capital to reduce the central budget deficit by the corresponding amount.

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