Quang Nam calculates balanced budget expenditures

Truong Hai's automobile revenue tends to decrease but will not affect the local budget balance.

Stick to the budget and collection schedule

The Provincial People's Council has set the total revenue and expenditure estimates for the local budget balance in 2024 at about VND 31,044 billion and VND 31,368 billion. The revenue to offset expenditure is only about VND 324.8 billion. The local budget deficit in 2024 is insignificant.

The Department of Finance informed that the estimated local budget balance revenue for the first 6 months of the year was 27,868 billion VND, reaching 49.65% of the estimate (domestic revenue enjoyed by the local budget was 8,378 billion VND, reaching 49.65%). Estimated local budget balance expenditure was 10,629 billion VND, reaching 38%.

According to the analysis of the Department of Finance, the revenue and expenditure balance of the local budget in 2024 according to the resolution of the Provincial People's Council are lower than the estimate and reality of 2023. Even if domestic revenue reaches 100% (about 20,100 billion VND), the locality will only receive 16,815 billion VND.

Compared to the 2023 budget, this domestic revenue has decreased by 962 billion VND. The pressure to manage, balance, and ensure revenue and expenditure will be a burden on the local budget. Budget revenue is difficult to predict this year while budget expenditures have not decreased, and may even increase.

Real estate frozen, no tax collected.

Faced with the above difficulties, the financial authority promptly determined the estimated revenue shortfall, revenue sources left to spend according to targets, sources of increased lottery revenue and savings in the provincial budget in 2023, established a plan to compensate for the revenue shortfall, use provincial budget sources, report, and report to the Provincial People's Council for consideration and decision.

Ms. Phan Thi Thanh Thao - Deputy Director of the Department of Finance said that there are still revenue losses and tax debts; some revenue sources are low, land use fees have not yet arisen, and the main revenue source from cars tends to decrease.

In addition, many localities and units have requested additional funding when regular expenditure tasks arise, and some units have been slow to propose financial autonomy plans. Despite the above difficulties, budget balance is still guaranteed.

State budget revenue met the estimated progress (with a slight increase compared to the same period). Local budget expenditures basically followed the estimated and collection progress. Social security policies and regimes, consequences of natural disasters, epidemics, etc. were promptly resolved.

Flexible management and operation

The Tax Department estimates that domestic budget revenue in the first 6 months of the year has reached more than 50.5% of the estimate (over 10,152 billion VND). If excluding land use fees and lottery, domestic revenue has reached 55.3% of the estimate (9,565 billion VND), up 6.8% over the same period. Many areas and taxes have reached and exceeded the estimated progress.

The estimated budget revenue for the whole year of 2024 is about 20,111 billion VND, reaching 100.1% of the estimate. However, localities such as Dong Giang only reached 37.4% of the estimate, equal to 57% over the same period, Dien Ban town only collected 23.22% (684 billion VND).

Despite many difficulties, Quang Nam still balances the local budget.

Mr. Tran Uc - Chairman of Dien Ban Town People's Committee said, with the current budget collection progress, by the end of 2024, the town will have a budget deficit of nearly 900 billion VND, leading to an imbalance, not knowing what to compensate, unable to ensure regular spending. The town proposed to consider and regulate additional revenue sources to offset the special consumption tax revenue from the brewery.

Mr. Dang Phong - Director of the Department of Finance said that local budget expenditure must closely follow the estimates, regimes, policies and norms. Localities with low revenue should proactively review and re-evaluate their budget collection capacity to proactively spend.

Budget expenditures need to be considered in the context of local conditions. If revenue does not meet the estimate, agencies, units and localities are forced to cut back and delay spending tasks.

Only prioritize implementing policies and regimes related to people, social security, poverty reduction, etc. Make corresponding spending adjustments, cut and postpone spending tasks that are not really necessary.

According to Mr. Phong, the budget may be difficult to collect, but the budget will be balanced at all costs. The budget will continue to be reviewed and balanced, ensuring that no expenditure within the allocated and approved norms will be cut.

“In reality, there have been many years when budget revenue did not meet estimates, budget deficits, imbalances between revenue and expenditure, and increased deficits. However, local budgets are still balanced in a stable and safe manner, without deficits in expenditures,” said Mr. Phong.

Source: https://baoquangnam.vn/quang-nam-tinh-toan-can-doi-chi-tieu-ngan-sach-3137796.html