The Ministry of Finance admitted a shortfall in budget revenue in 2013

The Ministry of Finance admitted a shortfall in budget revenue in 2013 3
The Ministry of Finance admitted a shortfall in budget revenue in 2013 3

After the first 9 months of the year, data from the Ministry of Finance showed that total State budget revenue reached nearly 544,000 billion VND, equal to 66.6% of the estimate.

The specific estimated number was not announced, but the Deputy Minister of Finance said that the Ministry had solutions to balance, calculate and prepare to present to the National Assembly in the next session.

The difficult budget picture has been warned by many experts before.

Mr. Cao Anh Tuan admitted that this year’s budget collection task is very heavy.

Mr. Tuan said that monthly Value Added Tax (VAT) statistics show that only 31% of businesses declare VAT.

Domestic revenue results also clearly show the risk of not being able to meet the 2013 estimate when it only reached 65% of the estimate.

With total revenue after 9 months of nearly 544,000 billion VND, the budget has spent about 685,000 billion VND.

At this press conference, leaders of the Ministry of Finance also explained the recent proposal to reduce the minimum wage.

Sharing more about this proposal, Deputy Minister Vu Thi Mai said that this should be seen as a solution that was then discussed by the Ministry to find the best solution together, not as a final proposal.

To increase revenue for the budget, the Association of Financial Investors recently proposed to sell State capital in businesses that are doing business effectively. Leaders of the Ministry of Finance said that promoting equitization in this area is also

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