Lessons learned from budget settlement

(HNMO) - On the afternoon of June 1, discussing at the plenary session of the 5th session of the 15th National Assembly, delegate Pham Thi Thanh Mai, Deputy Head of the Hanoi City National Assembly Delegation, said that it is necessary to review the budget settlement to draw lessons, especially on the backlog of contents that have lasted for many years.

Under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly continued to discuss in the hall on 4 contents, including: Approval of the 2021 state budget settlement; Practice of thrift and anti-waste in 2022; Continued implementation of the 2% value-added tax reduction policy according to Resolution No. 43/2022/QH15 dated January 11, 2022; On assigning the list and capital level for tasks and projects under the Socio- Economic Recovery and Development Program; assigning, adjusting and supplementing the medium-term public investment plan of central budget capital for the 2021-2025 period and allocating the central budget capital investment plan in 2023 of the national target program.

Delegate Pham Thi Thanh Mai, Deputy Head of the Hanoi City National Assembly Delegation, spoke at the discussion.

Speaking at the meeting, delegate Pham Thi Thanh Mai, Deputy Head of the Hanoi City National Assembly Delegation, said that it is necessary to review the budget settlement to draw lessons, especially on the backlog of issues that have lasted for many years. There needs to be solutions to rectify, consider responsibilities, and strictly implement discipline in implementing State policies.

The delegate said that in 2021, under the pandemic conditions, the state budget settlement increased by 17.2% of the estimate, and expenditure increased by 0.4% of the estimate, although there were analyses and assessments of the causes in the budget preparation that were not accurate, affecting the management process. However, to achieve this result, it also requires a lot of efforts from ministries, departments and branches from central to local levels, and the support of the entire political system and the business community.

However, when reviewing the Government's report, there are still some unresolved issues, which are still at a relatively serious level. Specifically, some contents of budget allocation are still slow, capital adjustments have been added many times, investment preparation work, ensuring proper investment procedures according to the law have not been fully implemented, and large construction debt has arisen...

Delegates proposed to carefully review the outstanding debt data of basic construction, analyze the causes of large outstanding debt of basic construction, have solutions to handle as well as clarify the responsibilities of agencies, units and localities when violating prohibited acts in the Law on Public Investment.

Delegate Vu Tien Loc (Hanoi Delegation) spoke at the hall.

Discussing the continued implementation of the 2% value added tax reduction policy according to Resolution No. 43/2022/QH15 dated January 11, 2022, delegate Vu Tien Loc (Hanoi Delegation) said that Vietnamese enterprises are facing many difficulties, behind the business community are workers and families, of the people in general. The number of enterprises withdrawing from the market is just the tip of the iceberg, the operating enterprises are also facing many difficulties. This is the hidden part of the iceberg, which needs to be paid attention to and resolved.

The delegate said that the biggest difficulty for businesses is the market, a difficult market leads to increased inventory, lack of liquidity, high debt, causing a large chain effect. To support people and businesses, an important measure is to reduce taxes and promote market development.

The delegate said that the world market is facing difficulties, so impacting the export market also faces many challenges, measures to promote trade, investment, and expand the market will not have much effect. The market we can impact is the domestic market. In recent months, although the market has increased total retail sales of goods and services, it is still in a downward trend. Stimulating the domestic market is an important solution. Reducing value added tax will both help "relax the people", reduce difficulties for consumers, and at the same time have an immediate impact on the market of businesses.

Regarding the state budget, the delegate said that there are favorable conditions to implement this policy, even on a larger scale. Appreciating the Ministry of Finance and the State Bank of Vietnam in their management over the past time, the delegate said that there is still a lot of room for financial policy so far, so it is necessary to expand monetary policy to support the economy in the coming time.

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