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Deputy Minister of Finance: “The budget does not overestimate”

Currently, an issue that public opinion is both excited and worried about is the budget surplus. Is there an opinion that the business has just recovered, is having difficulty and has a lot of budget revenue, will there be revenue inflation? Does it make it difficult for businesses?

Explaining this issue at the “Ensuring major balances of the economy and sustainable development”, Deputy Minister of Finance Vo Thanh Hung shared, the views of the Government and the Ministry of Finance always guide in Collection work is to ensure that all revenues arising from the State budget are collected correctly, in full and in a timely manner. The revenue in 2021 up to this point has exceeded the estimate by 16.8%, the central government and basically all localities have met and exceeded the estimate.

Deputy Minister of Finance: The budget does not abuse revenue - Photo 1.

Deputy Minister of Finance Vo Thanh Hung

According to Mr. Hung, accompanying and sharing with businesses during difficult times, the total funding for tax, fee and fee exemption, reduction and extension in 2021 is over 123,000 billion VND, of which the exemption or reduction is over 100,000 billion VND.

“Our revenue is compared with the estimate, not the actual implementation. If compared with the implementation of 2020, the total budget revenue will only increase by about 3.8%, and that is completely consistent with economic growth. has 2.8%, inflation is above 1.8%”, added the Deputy Minister of Finance.

According to Mr. Hung, we built the 2021 estimate right at the time of the 3rd outbreak in Vietnam. Looking around the whole world and many countries in the region, the economic decline is very severe, for Vietnam alone, in 9 months our country grew by 2.1%, earning about 64%, which, if normal, 9 months of our country. receivable 74-75%.

On the basis of the epidemic situation at that time, we built the 2021 estimate somewhat cautiously, so by September 2021, reporting to the National Assembly, we forecast that the budget revenue will still exceed the estimate. At that time, the Ministry of Finance forecasted more than 20,000 billion VND, but actually exceeded 22,000 billion VND.

The Deputy Minister of Finance also emphasized that in terms of structure, our country’s revenue is gradually becoming more sustainable. Domestic revenue, i.e. revenue from domestic production and business activities, occupies an increasingly dominant position.

“The revenue results also reflect the general trend, which is that in such difficult economic conditions, the confidence of investors, especially foreign investors, in the Vietnamese economy is still very good. FDI attraction in 2021 will still increase by 9% compared to 2020 in the context of our difficult epidemic situation,” said the Deputy Minister of Finance.

Deputy Minister of Finance: The budget does not abuse revenue - Photo 2.

Dr. Nguyen Si Dung believes that there must be a legal basis to collect, not how you want to collect

Sharing the same opinion with the Deputy Minister of Finance, at the seminar, Dr. Nguyen Si Dung said that the problem of over-collection is very unlikely because there must be a legal basis for collection, not how you want to collect it.

In addition, the Ministry of Finance has applied electronic invoices, digitized many activities, and is very transparent. Therefore, if we collect correctly and collect enough, the revenue will increase. Maybe in the past it was not transparent, hiding revenue, now it has been digitized, electronic invoices help the Ministry to manage faster. This is also a healthy trend, very questionable.

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