Risks to national financial security
NA delegate Tran Van Minh said the state’s annual budget overages will be kept at some 4.5 percent of GDP by 2015–under the 2020 financial strategy — but they have exceeded 5 percent over the past few years. He is concerned about the use of these excessive expenditures (not simply to fund development projects, but to repay debts) and asked the ministry about its budget overages and Vietnam’s ability to implement its repayment strategy by 2020.
Answering him, minister Dung attributed the recent increase in over-spending to difficulties in tax collection and high demand for spending on infrastructure development, social welfare, and poverty reduction.
In 2013, over-spending hit 5.3 percent of GDP, he said.
The urgent tasks in the coming years is to tighten spending and improve business efficiency to ensure funds for development, poverty reduction and national defense, Dung said.
This year, the government expects economic growth to hit 5.8 percent.
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Đăng ký: VietNam News