In 2023, the state budget deficit will be VND 291,564 billion, equal to 2.83% of GDP.

The National Assembly voted to pass the Resolution on supplementing the state budget revenue estimate for 2023 and approving the 2023 state budget settlement. *Photo: quochoi.vn*

Specifically, the Resolution on supplementing the State budget revenue estimate for 2023, including the increased revenue that has not been updated in Resolution No. 1077/NQ-UBTVQH15 dated June 28, 2024 of the National Assembly Standing Committee on supplementing the State budget revenue estimate for 2023; allocating and using increased revenue sources and saving regular expenditures of the central budget in 2023 is 16,655 billion VND, including increased central budget revenue of 12,974 billion VND; increased local budget revenue of 3,681 billion VND.

Regarding the preparation and implementation of the 2023 State budget estimates and settlement, the Resolution stated that the National Assembly acknowledged and highly appreciated the Government's efforts in closely and resolutely directing socio -economic development solutions, effectively implementing fiscal policies in sync with monetary policies and other macroeconomic policies to remove difficulties for businesses and people, promoting socio-economic recovery and development.

Thanks to that, the socio-economic situation has achieved quite comprehensive results, the growth of the gross domestic product (GDP) for the whole year reached 5.05%, although lower than the set plan, it is still a bright spot compared to other countries in the region and the world ; inflation is controlled; management of state budget revenue and expenditure is strengthened, state budget revenue exceeds 9.3% compared to the estimate...

In addition to the positive results achieved, the compliance with discipline, order, and implementation of legal regulations and the National Assembly's Resolutions on the preparation and implementation of the State budget estimates and final accounts still has some shortcomings and limitations that have lasted for many years and have not been completely resolved. Specifically, the preparation of State budget revenue and expenditure estimates is not close to reality; some ministries, central agencies, and localities allocate and assign estimates late, prolong, and prepare, review, and send State budget finalization reports later than the prescribed time.

Regarding the approval of the 2023 State budget settlement, the Resolution resolves that the total balanced State budget revenue is 3,023,547 billion VND, including the revenue transferred from 2022 to 2023, the local budget surplus in 2022, and revenue from the financial reserve fund according to the provisions of the State Budget Law.

The total state budget balance expenditure is 3,176,154 billion VND, including the expenditure transferred from 2023 to 2024. The state budget deficit is 291,564 billion VND, equal to 2.83% of GDP, excluding the local budget surplus. The total state budget borrowing to cover the deficit and repay the principal is 482,625 billion VND.

The Resolution also assigned the Government to publicly disclose the 2023 State budget settlement in accordance with the provisions of law. Therein, it directed ministries, central agencies, People's Committees at all levels and State budget revenue and expenditure management units to continue implementing drastic and synchronous measures to strengthen financial discipline and order in preparing and implementing State budget estimates and settlements, overcoming long-standing shortcomings and limitations...

Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai presents a report on reception and explanation. *Photo: quochoi.vn*

Presenting the report on acceptance and explanation before the National Assembly passed the Resolution, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai said that many National Assembly deputies believed that the observance of discipline and order in the management, use and settlement of the State budget still had many shortcomings and limitations that had lasted for many years and were slow to be overcome.

Delegates also requested the Government to continue to thoroughly grasp and direct ministries, branches and localities to strictly implement financial and state budget discipline in accordance with legal regulations and National Assembly Resolutions; and to overcome shortcomings, limitations and violations that have lasted for many years in the preparation and implementation of state budget estimates and settlement.

Along with that, we need to seriously learn from experience to perform better, avoiding the repetition of inaccurate budgeting, slow disbursement and many shortcomings and limitations mentioned in the State Audit report.

The National Assembly Standing Committee agreed with the opinions of the National Assembly deputies. In the Government's Report, the State Audit's report on the 2023 State Budget finalization clearly pointed out the shortcomings and limitations that have lasted for many years in the preparation and implementation of the 2023 State Budget estimates and finalization that have not been completely resolved.

In response to delegates' opinions, the National Assembly Standing Committee directed the Appraisal Agency to coordinate with the Ministry of Finance and the State Audit to review, absorb, and revise Article 2 of the draft Resolution on supplementing the State budget revenue estimate for 2023 and approving the State budget settlement for 2023, reflecting the achieved results, existing limitations, and assigned the Government to direct ministries, central agencies, and localities to continue implementing drastic and synchronous measures to overcome existing shortcomings and limitations that have lasted for many years.

Along with that is strengthening financial discipline and order in preparing and implementing the State budget estimates and final settlement in clauses 2, 3, 4 and 5, Article 4 of the draft Resolution...

Source: https://hanoimoi.vn/nam-2023-boi-chi-ngan-sach-nha-nuoc-la-291-564-ty-dong-bang-2-83-gdp-706999.html