2023 state budget revenue estimate up 0.4%: report
State budget revenue in 2023 is projected at 1.62 quadrillion VND (68.5 billion USD), up 0.4% from 2022, according to a report on state budget, which was exclusively made for the public.
Hanoi (VNA) – State budget revenue in 2023 is projected at 1.62 quadrillion VND (68.5 billion USD), up0.4% from 2022, according to a report on state budget, which was exclusively madefor the public.
Under the report, recently released by the Ministryof Finance, state budget expenditures would be 2.07 quadrillion VND, arise of 16.3% as compared with this year’s estimate.
Meanwhile, the country’s GDP is expected to growabout 6.5% and GDP per capita income would reach some 4,400 USD. The manufacturingand processing sector is set to make up from 25.4 - 25.8% of the national GDP and theconsumer price index (CPI) would increase by around 4.5% in the year. The povertyrate is hoped to reduce 1-1.5%.
The State budget overspending is projected at 455.5trillion VND, equivalent to 4.42% of the national GDP.
The report also introduces major solutions relatingto financial and State budget management in the year, focusing on responding tocomplicated changes in the domestic and international situation, maintaining macro-economic stability, controlling inflation and ensuring major economicbalances.
It mentions consolidating the State budgetcollection system, and amending, supplementing and perfecting tax managementinstitutions to ensure the accurate and timely collection of taxes and fees.
The responsibility of leaders of relevant agencies willbe promoted and unnecessary expenditures will be cut, according to thereport./.
The National Assembly (NA) has decided to raise the base salary for cadres, civil servants, and public employees to 1.8 million VND (72.5 USD) per month from July 1, 2023.
The 11-month state budget revenue is estimated at nearly 1.64 quadrillion VND (67 billion USD), equivalent to 116.1% of the target and up 17.4% from a year earlier, the Ministry of Finance (MoF) announced on December 1.
State budget revenue reached over 1.69 quadrillion VND (71.4 billion USD) as of December 15, exceeding the estimate by 19.8%, the Ministry of Finance announced at a conference in Hanoi on December 19.
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Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Source: VNA) 
