According to Deputy Minister of Finance Nguyen Duc Chi, the total State budget expenditure in the year reached about 1.73 quadrillion VND or 83.4% of the estimate. The spending for investment and development was equivalent to 79.8% of the estimate decided by the National Assembly, and 81.9% of the plan assigned by the Prime Minister. 

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Participants at the conference

The budget balance at all levels is guaranteed. As of December 25, 296.7 trillion VND worth of Government bonds had been issued, equal to 74.2% of the yearly plan, with an average interest rate of 3.21% per year.

The Ministry of Finance said it will continue to operate a flexible fiscal policy, thus contributing to stabilizing macro-economy, speeding up the implementation of important infrastructure investment projects, and creating a foundation to promote economic growth.

It will also focus on strictly managing State budget expenditures; improving the efficiency of management, allocation, and use of state budget. More plans include tightening financial discipline, promoting restructuring of State budget spending, and tightly controlling State budget deficits, public debt, and contingent debt obligations.

Source: VNA