In 2019: The State Treasury committed to beat the disbursement investment capital of 2018

The press conference

Disbursement of investment capital reached 61.8 percent of the plan

According to a report of the State Treasury, by the end of December 15, 2019, the accumulated State budget revenue in the balance exceeded VND1,4quadrillion, equalto 100.21 percent of the assigned estimates in 2019. By December 31, 2019, total State budget revenue will reach the goal of exceeding 5 percent of the estimate assigned by the Government in Resolution No. 01/NQ-CP.

Nguyen QuangVinh, Deputy General Director of the State Treasury said, on the last days of 2019, the State Treasury and collecting agencies such as Tax and Customs will strive to achieve a minimum of 5 percent. Along with that, striving to collect central budget and the budget of each province to reach and exceed the estimate.

In recurrent expenditure, as of December 15, 2019, the State Treasury system implemented expenditure control of VND846,353 billion, equal to 81.2 percent of the State budget's regular (excluding payment debt, aid, additional expenses of financial reserve fund andreservea).

Through the control of State budget expenditure, the State Treasury units have detected 21,985 inadequate expenditures, requested additional necessary procedures and VND79 billion was refused to be paid.

Notably, for construction investment expenditure, the estimated accumulated investment capital under the 2019 targetto control expenditures through the State Treasury disbursed to December 15 is VND257,455.8 billion, reaching 61.8 percent of the plan assigned by the government; 60 percent of the plan assigned by the National Assembly (the capital plan assigned by the Government through the State Treasury wasVND416,690.9 billion; the capital plan assigned by the National Assembly wasVND429,300 billion, excluding direct funding through the Ministry of Public Security, the Ministry of National Affairs and interest rate subsidy through Development Bank and Policy Bank).

Regarding investment capital disbursement, Nguyen QuangVinh, Deputy General Director of the State Treasury said disbursement progress is not high. On the basis of spending control of nearly 120,000 units, the national estimation has enumerated all causes to report to the Ministry of Finance, and the Ministry of Finance also advised the Government to promulgate a resolution to promote allocation and disbursement of investment capital plans in 2019.

Explaining more about the disbursement of investment capital, Tran Manh Ha, Director of the Department of Expenditure Control, State Treasury said, in 2019, the State Treasury held many petition meetings to improve the disbursement rate. From the beginning of the year to September 2019, disbursement progress was only 39 percent. Thanks to the close cooperation and direction of the Government, in just 3.5 months (from September to now),disbursement progress has increased significantly, accounting for 39 percent of the disbursement from the beginning of the year to December 15. It is expected that by January 31, disbursement progress will reach 88 percent, exceeding 6 percent compared to 2018.

Determined to make State financial statements

At the press conference, Nguyen QuangVinh, Deputy General Director of the State Treasury, said that 2019 was the first year that the State Treasury made the State financial statements.

The State Treasury has coordinated with ministries, central agencies, localities and relevant units under the Ministry of Finance toprepare the State Financial Statements 2017, submitting to the Ministry of Finance and Government, and approved by the National Assembly inResolution No. 77/2019/QH14 on June 11, 2019. Along with that, the State Treasury continues to work with the Ministry of Finance to implement the preparation of the State Financial Statements 2018 according to the plan.

“The State Treasury system from central to local levels has prepared and urged agencies and units to provide financial information. Up to now, of the total of more tjan53,000 units that are required to provide financial information in 2018 to the State Treasury nationwide, the units at the provincial and district levels have completed the sending of reports to the State Treasury,” Nguyen QuangVinh said.

State Treasury leaders said the entire State Treasury system has focused on the preparation of the general report of district financial information and provincial financial statements, ensuringcompletion to report to the People's Committee of the province and city for submission to the People's Council for submission in December 2019.

As for central units, the State Treasury is urging and coordinating to ensure the synthesis and reporting on a national scale to submit to the Ministry and the Government in March 2020, to submit to the State Treasury and the National Assembly together with the State budget settlement report, which is reported to the National Assembly in May 2020 per regulations.