The Finance - State budget tasks for 2017

	Tighten Government guarantees: Reduce “enormously”
	Modernization to enhance the operations of the national reserves
	10 highlight events of the State Treasury system in 2016

Representatives of the Finance - State Budget Committee of the National Assembly and some localities shared the results of 2016 at the meeting. Photo: Huu Linh.

The Vice Chairman of the Finance - State Budget Committee of the National Assembly, Mr. Dinh Van Nha said : Need to issue a Decree guiding the new Law on the State Budget as soon as possible.

With the drastic implementation of the Finance - State budget tasks, along with the efforts of the Ministry of Finance and the support of relevant agencies, the mission of the State budget revenue in 2016 was successfully completed. 2016 was the year highlighting an effective collaboration between the Finance - State Budget Committee of the National Assembly and the Ministry of Finance. Most proposals that the Ministry of Finance advised the Government were highly appreciated.

2017 is the first year that the Government will manage the State budget under the new Law on the State Budget. Thus, the Ministry of Finance needs to soon issue a Decree guiding the new Law on the State Budget, focusing on guidance and training for people to have a proper view of financial management.

This year, in addition to the major tasks related to restructuring of budget revenues, the issue of debt restructuring will be noted. This is a herculean task that requires relevant Ministries to support. Therefore, the Ministry of Finance should arrange human resources effectively and collaborate with relevant Ministries to revise social welfare policies as well as abolishing outdated and unnecessary policies.

In particular, in the near future, the Ministry of Finance should strengthen reform of administrative procedures, especially shorten the evaluation time of expenditure tasks, creating favourable conditions for State agencies to use State budget.

The Vice Chairman of Hanoi People’s Committee, Mr. Nguyen Doan Toan: Focusing on collection of State revenues in potential areas.

In 2016, after being assigned to complete the budget target by the Government, Hanoi immediately issued an action plan with 10 key tasks. With the drastic measures of the political system and people, the total budget revenues in Hanoi 2016 reached 103.8% of the assigned target. This has been the highest growth rate for a long time, showing the efforts of Hanoi in the difficult context.

In 2017, in order to accomplish the task of revenues, Hanoi will continue to focus on solving difficulties in key areas. Also, the budget expenditure will continue to be reviewed and rebalanced, minimizing the unnecessary expenditures.

Hanoi will also focus on reviewing all investment projects. In particular, the public investment plans in the first 6 months of 2017 will be reviewed tightly, preventing capital construction debts. Hanoi will also focus on management of commodity prices and the stabilization of commodity prices in Tet holiday.

The Vice Chairman of HCM City People’s Committee, Mr. Tran Vinh Tuyen: Proposing to increase capital investment for development.

Thanks to the efforts of the political system, enterprises and people, HCM City continued to overcome difficulties and maintain a reasonable growth, contributing to the stability of the State budget. In 2016, HCM City exceeded the estimate of revenues in 2016 with a total State budget revenue of 307,160 billion vnd, reaching 102.97% of target, an increase of 12.36% over the same period.

In 2017, HCM City will determine to manage the State budget in accordance with the approved estimates, standards and norms to prevent budget losses; closely supervise the use of investment capital and regularly review projects. Continuing to overcome difficulties and support enterprises to develop production and business, improve competitiveness and expand the market shares at home and abroad.

HCM City has proposed to the Ministry of Finance to collaborate with the Ministry of Planning and Investment to consider and resolve problems under the guidance of the Prime Minister related to revenues from the equitization of enterprises with 100% State capital to support HCM City in investment and development.

HCM City has also proposed to the Ministry of Finance to submit to the Prime Minister about additional funds for investment in key infrastructure projects with the strategic role for the development of society and economy in HCM City and key economic regions in the South of Vietnam.

The Vice Chairman of Dong Nai People's Committee, Mr. Nguyen Quoc Hung: Supporting localities in the implementation of the new Law on the State Budget.

At the end of 2016, State budget revenues in Dong Nai province reached more than 102% of the estimate. This showed a great effort of Dong Nai because last year, there were many changes in policies such as reduction of income tax rates and some export commodities exempted from taxes, leading to lower revenues.

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In 2017, Dong Nai province will strive to complete 100% of the revenue estimates and successfully implement solutions related to socio-economic development of the Government. Dong Nai will propose to the Ministry of Finance to support it in the field of Taxation, State Treasury, Customs and Finance under the new Law on the State Budget.