Create foundation for successful performance of financial tasks in 2023

	Striving to achieve the highest results of financial tasks in 2022
	Ten solutions to accomplish the State budget–finance tasks in 2020

In 2023, the Finance sector continues to implement financial policies to support and remove difficulties for enterprises. Photo: Internet.

Adapting flexibly to turn difficulties into opportunities

In 2023, the world’s economic and political situation will continue to face turbulence. In addition, some internal challenges will also put pressure on economic recovery and growth.

In that context, the Finance sector has set major policies and orientation in 2023 as well as for 2021-2030, including key tasks such as completing the policy of mobilizing national financial resources, improving the efficiency of State revenue collection, allocation, management and using financial resources in association with promoting the process of economic restructuring and sustainable development; closely and effectively managing the State budget deficit and public debt; improving fiscal space, contributing to raising the resilience of national finance; developing the financial market and services in a comprehensive, modern, transparent and stable manner; performing price management and administration under the market mechanism regulated by the State.

From the beginning of January, the Ministry of Finance Party Committee issued a resolution directing the finance sector to strive for great accomplishments of financial tasks in 2023. The resolution states that 2023 is the middle term, which plays an important role in the implementation of resolutions of the 13th Party Congress and the National Assembly on the 5-year socio-economic and financial development plan.

The Finance sector determines to always be calm, confident, brave, proactive, flexible, and creative in direction and operation; promote solidarity, unity, and determination to create a consensus of the whole political system in the sector; flexibly and effectively adapt to the situation to overcome difficulties and challenges, take advantage of opportunities and advantages to successfully perform assigned tasks.

In 2023, the Finance sector continues to enhance its analytical and forecasting capacity; actively respond to all situations and grasp new developments of the situation, handle effectively problems and develop flexible scenarios and plans to adapt to new problems.

In addition, strengthen the development and perfection of financial institutions, focus on effectively performing the communication and policy response in developing and issuing legal documents, removing difficulties and providing solutions to support the business production; perform tasks and prevent delays and congestion, causing waste of human resources; ensure the implementation of short-term and long-term goals, contributing to promoting sustainable socio-economic development.

Continue to implement financial policies and support businesses

In order to successfully implement the financial tasks in 2023, after the Government issued Resolution No.01/NQ-CP, the Ministry of Finance promptly issued plans for the implementation of assigned tasks, including assignments to its subordinate units.

The Ministry sets out a plan on implementing 108 tasks and solutions, including 53 tasks that are directly led and 55 tasks that are coordinated with other ministries and sectors. The Ministry will continue to implement fiscal policies, regulate the coordination between fiscal and monetary policies in the most reasonable and effective manner. Remove difficulties and problems to stabilize the stock, insurance, and capital markets and ensure the most effective financial management and public assets.

According to Minister Ho Duc Phoc, in 2023, the world situation continues to suffer from difficulties. From the beginning of the fourth quarter of 2022, the domestic economy has faced challenges, potentially impacting the performance of financial tasks in 2022 and 2023.

In the context of fiscal policy as a key tool to regulate the macro economy, the Finance sector considers the major tasks in 2023 to prioritize macro stability and inflation control, ensure social security, and support economic recovery. Thereby, creating a foundation for the successful implementation of financial tasks in 2023 as well as the goals of the whole term of 2021-2025, restructuring the state budget and sustainable public debt under the direction of the Party and State.

“In the year, the Finance sector continues to perform well fiscal policy, especially the public revenue and expenditure estimates approved by the National Assembly; support and remove difficulties for businesses; extend tax payment for businesses and reduce environmental tax for petroleum businesses, reduce land rent and issue mechanisms and policies to create favorable conditions for enterprises’ development. Urge the disbursement of public investment and arrange key investment projects to create breakthroughs for economic development.

The Ministry advised the Government to issue a decree amending Decree 65 to remove difficulties in attracting capital, and make the privately placed bonds the effective and transparent medium-term capital mobilization channel. Build a privately placed corporate bond trading floor at HNX to create transparency in the trading process. At the same time, keep the CPI below 4%, public debt at a low level of 40-42% within the threshold of 60% of GDP, and budget deficit below 4.5% of GDP assigned by the National Assembly, said Minister Ho Duc Phoc.