(TBTCO) - The Government has just promulgated the Government's Action Program to implement Resolution No. 07-NQ / TW dated 18/11/2016 of the Politburo on guidelines and measures to restructure the state budget, Public debt management to ensure a secure, sustainable national finance.
Resolutely cutting down programs and projects that are not effective, not really necessary.
Accordingly, strive to successfully complete the general objectives and specific objectives of the Resolution up to 2020, ensuring a balanced budget and maintaining national financial security.
Specifically, the rate of mobilization into the state budget in the period 2016-2020 is about 20-21% GDP; Total budget revenue is about 1.65 times in the period 2011 - 2015, of which domestic revenue is about 84-85%, crude oil collection and import-export revenue is about 14-16%. The proportion of central budget revenue is 60-65%.
The share of state budget expenditure in the period 2016-2020 is about 24-25% of GDP on average. Of the total state budget expenditures, development investment expenditures are about 25 - 26%, regular expenditures are less than 64%, priority is given to debt payment and national reserve.
To gradually reduce the state budget overspending, not to exceed 3.5% of GDP by 2020. The size of public debt in the 2016-2020 period should not exceed 65% of GDP, government debt should not exceed 55% of GDP and national foreign debt should not exceed 50% of GDP.
Resolutely cutting down on inefficient, unnecessary projects
The main tasks and solutions of the program are to accelerate the economic restructuring associated with the renovation of the growth model, raising the productivity, efficiency and competitiveness of the economy.
Specifically, promote the restructuring, improve the efficiency of public investment. To review the list of investment programs and projects funded with state budget capital, public loans, resolutely cutting down the programs and projects which are not effective and not really necessary. Continue to revise and improve the Law on Public Investment, fundamentally renovate the institutional framework for public investment management, especially the project formulation and evaluation, appraisal of the project and the mechanism for assessment of socio-economic efficiency. After the project has been put into use.
To review and innovate to further encourage private investment, foreign direct investment in socio-economic development; To adopt policies to prioritize the attraction of foreign direct investment in advanced, modern, high technology and environmentally friendly technology projects; Restricting, eliminating projects using outdated technology, polluting the environment.
Effectively restructure state owned enterprises, promote equitization and decrease the percentage of State shareholding in the majority of state-owned enterprises operating in sectors and sectors outside the sector The state can undertake, including businesses that are operating effectively; To withdraw all state capital from non-state-owned enterprises which need to be held for use for development investment and to solve urgent socio-economic issues. Apply modern governance to SOEs; To clarify the state-owned business investment activities; Improve the efficiency of the use of state resources, increase the accountability of representatives of state capital in enterprises and support private development. Promote equitized companies to list and register for trading on the stock market to make information transparent.
Continue to restructure credit institutions; To fundamentally and thoroughly handle bad debts and weak credit institutions in forms suitable to the market mechanism on the principle of prudence, ensuring the interests of depositors and maintaining stability and security. the whole system; By 2020, commercial banks will apply Basel II capital adequacy ratios, with 12 to 15 banks meeting their capital adequacy levels under Basel II; Strive to reduce the level of interest rates that are competitive against the average interest rates in the ASEAN-4.
To accelerate the renovation of the public service delivery sector on the basis of strengthening the autonomy in organization, staffing, operation and finance for public non-business units; Promote socialization; Equitization of public service delivery units; By 2020, strive to properly and fully calculate the costs of public services; To step up the implementation of the mechanism of bidding, placing orders and assigning tasks in the provision of public non-business services; To create an equal environment in the provision of public services using the state budget; To shift the mode of direct support of the State to those who have rendered meritorious services to vulnerable groups, ensuring the socio-political beneficiaries, ethnic minority people, deep-lying, remote or special areas. Difficult to be provided with regulated services better and better.
Focus on restructuring state budget revenues and expenditures
Other tasks and solutions are to restructure state budget revenues and expenditures, strengthen public debt management, ensure the safety and sustainability of the national financial system. To strictly abide by the principle that loans for offsetting the State budget deficit can only be used for development investment and not used for regular expenditures; To strive to reduce the State budget deficit to a minimum level as set by the National Assembly's resolutions, step by step increase the accumulation for development investment and repayment of loans, increase the state reserve
In particular, to complete the revenue policy in the direction of covering all revenue sources, expanding the collection base, especially new revenue sources, in line with international practices; To increase the proportion of domestic revenue, to ensure a reasonable proportion between indirect taxes and direct taxes, to make good use of revenues from property, natural resources and environmental protection; Increase the share of taxes and fees in total state budget revenues; To minimize the integration of social policies in tax and tax exemption, reduction and relaxation, to ensure the neutrality of taxes, thus contributing to creating a favorable and equitable business environment for investment and business. Invest, regulate the income is reasonable.
Enhancing the exploitation of financial resources from public assets (especially land, natural resources and assets in the public service sector, assets being transport infrastructure) to mobilize capital for economic development. Socio-economic development of the country. Improve the efficiency and effectiveness of the management of collection, inspection and examination; Application of modern information technology and reform of administrative procedures in budget remittance; Both create favorable conditions for taxpayers and prevent transfer or evasion of tax evasion; To renovate, apply measures and skills of tax debt management and coerce the execution of tax administrative decisions and reduce the proportion of outstanding debts.
To step by step restructure state budget expenditures in the direction of increasing the proportion of rational investment expenditures, reducing the proportion of regular expenditures associated with vigorous renovation of the public-service administrative service sector according to the autonomy mechanism. Simplify the machine, payroll, implement wage reform; Improve transparency and efficiency in the areas of recurrent expenditure, development investment. Restructure budget expenditures in each domain, focusing on essential services, state budget must ensure and support.
Institutional improvement, especially policies, tools, indicators for public debt monitoring, public debt management apparatus, ensuring compliance with the Constitution and relevant laws, in accordance with international practice. , To comprehensively control the risk and effectiveness of public debt. Strictly control public debt, national external debt annually within the limits, set goals; Ensure adequate reserve for potential risks; Restructure public debt to minimize debt maturity, refinancing risk, liquidity, exchange rates, interest rates, credit; Ensure full repayment in due time. Close monitoring of lending, use of funds from non-state budget funds for purposes of the budget.
To raise the efficiency of the use of loan capital, step by step narrow the scope of public debt use, focus only on key projects and projects, effectively and ensuring the balance of debt repayment sources; To closely inspect and supervise the use of loans for re-lending. Implement the re-lending mechanism for local governments, credit risk sharing mechanism with re-lending agencies. Limit the maximum level of government guarantee for new loans, limiting the guarantee limit for 02 policy banks to the maximum with the obligation to pay annual loans.
To intensify the supervision of the implementation of the borrowing and self-repayment limits of foreign loans by enterprises in order to ensure the foreign debt safety norms; To review major projects, assess the thin capital status of the foreign-invested enterprises as a basis for forecasting the demand for borrowing by foreign borrowers themselves. industry; To perfect the regime of reporting on foreign debt statistics for self-repayment in service of the work of monitoring and supervision of quotas.
Strengthening the discipline and discipline of finance - state budget and public debt
Strengthening the discipline and discipline of finance - state budget and public debt. Specifically, tightening fiscal discipline, budget, public debt; To make revenues and expenditures within the scope of estimates, borrowings and disbursements within the plans and the limits decided by competent authorities; To promulgate mechanisms and policies only when financial sources are available; To minimize the advance of estimates, transfer of sources and adjustment of the total investment in programs and projects funded with loans; Completely handle construction debt and not generate new debt. To enhance the settlement of completed projects funded by the State capital, thoroughly settle the situation of settlement settlements and strictly implement sanctions for handling of violations in the settlement of completed projects.
Failing to transfer loans for re-lending or guaranteeing the Government into state budget allocations; To not use the state budget to restructure state enterprises, handle bad debts of state-owned commercial banks, grant charter capital to commercial credit institutions, or contribute capital to organizations at financial institutions. Main international. New loans are only made after fully assessing the impact on the size of public debt and medium-term debt repayment capacity.
To continue reforming the control of state budget expenditures along the direction of unifying the process, focusing on the control and payment of State budget expenditures (including regular expenditures and investment expenditures) in association with The clear assignment of responsibilities and powers of the concerned units (financial agencies, state treasuries, state budget-using units); To step up the application of information technology to the expenditure control and revenue management.
Strengthen inspection, examination, auditing, publicity and transparency, accountability for state budget and public debt. To step by step develop budget estimates according to objectives, tasks, economic and technical norms and service charges and commitments.
Strengthening the state administrative apparatus streamlined
To consolidate the state machinery and personnel, raise the efficiency and effectiveness of the state management of finance - state budget and public debts.
Particularly, to step up the streamlining and restructuring of the contingent of cadres and civil servants associated with the reform of the public-duty regime and civil servants. To vigorously reform the process and method of organizing the recruitment, use, payment, evaluation and promotion of cadres; To implement the regime of contract with definite terms for state employees in the spirit of the Resolution of the 4th plenum of the XIIth plenum; Appointment, promotion of staff mainly based on achievements, results of work; To enhance the accountability of the heads of the officials and public employees under their respective management and the performance of their assigned tasks by the agencies or units.
To consolidate the State administrative apparatus in a streamlined, incorruptible, smooth, effective and efficient manner, with a view to further stepping up the decentralization of state management between the Government and the administrations of the provinces and centrally-run cities.
To study, review and adjust the functions, tasks and organizational structure of ministries, branches, central agencies and localities in the direction of streamlining, attaching responsibilities to decide on budget expenditures and public debt. Management of state budget and debt repayment; To ensure the efficiency and effectiveness of management, allocation, balancing of the state budget and debt management, contributing to the achievement of the objectives of controlling budget deficit and public debt objectives in accordance with the Resolution, each Step by step healthy, sustainable development of national finance.
Improve capacity for analysis, assessment, forecasting, planning and adjustment of economic, social, financial and budgetary policies.
Specifically, the rate of mobilization into the state budget in the period 2016-2020 is about 20-21% GDP; Total budget revenue is about 1.65 times in the period 2011 - 2015, of which domestic revenue is about 84-85%, crude oil collection and import-export revenue is about 14-16%. The proportion of central budget revenue is 60-65%.
The share of state budget expenditure in the period 2016-2020 is about 24-25% of GDP on average. Of the total state budget expenditures, development investment expenditures are about 25 - 26%, regular expenditures are less than 64%, priority is given to debt payment and national reserve.
To gradually reduce the state budget overspending, not to exceed 3.5% of GDP by 2020. The size of public debt in the 2016-2020 period should not exceed 65% of GDP, government debt should not exceed 55% of GDP and national foreign debt should not exceed 50% of GDP.
Resolutely cutting down on inefficient, unnecessary projects
The main tasks and solutions of the program are to accelerate the economic restructuring associated with the renovation of the growth model, raising the productivity, efficiency and competitiveness of the economy.
Specifically, promote the restructuring, improve the efficiency of public investment. To review the list of investment programs and projects funded with state budget capital, public loans, resolutely cutting down the programs and projects which are not effective and not really necessary. Continue to revise and improve the Law on Public Investment, fundamentally renovate the institutional framework for public investment management, especially the project formulation and evaluation, appraisal of the project and the mechanism for assessment of socio-economic efficiency. After the project has been put into use.
To review and innovate to further encourage private investment, foreign direct investment in socio-economic development; To adopt policies to prioritize the attraction of foreign direct investment in advanced, modern, high technology and environmentally friendly technology projects; Restricting, eliminating projects using outdated technology, polluting the environment.
Effectively restructure state owned enterprises, promote equitization and decrease the percentage of State shareholding in the majority of state-owned enterprises operating in sectors and sectors outside the sector The state can undertake, including businesses that are operating effectively; To withdraw all state capital from non-state-owned enterprises which need to be held for use for development investment and to solve urgent socio-economic issues. Apply modern governance to SOEs; To clarify the state-owned business investment activities; Improve the efficiency of the use of state resources, increase the accountability of representatives of state capital in enterprises and support private development. Promote equitized companies to list and register for trading on the stock market to make information transparent.
Continue to restructure credit institutions; To fundamentally and thoroughly handle bad debts and weak credit institutions in forms suitable to the market mechanism on the principle of prudence, ensuring the interests of depositors and maintaining stability and security. the whole system; By 2020, commercial banks will apply Basel II capital adequacy ratios, with 12 to 15 banks meeting their capital adequacy levels under Basel II; Strive to reduce the level of interest rates that are competitive against the average interest rates in the ASEAN-4.
To accelerate the renovation of the public service delivery sector on the basis of strengthening the autonomy in organization, staffing, operation and finance for public non-business units; Promote socialization; Equitization of public service delivery units; By 2020, strive to properly and fully calculate the costs of public services; To step up the implementation of the mechanism of bidding, placing orders and assigning tasks in the provision of public non-business services; To create an equal environment in the provision of public services using the state budget; To shift the mode of direct support of the State to those who have rendered meritorious services to vulnerable groups, ensuring the socio-political beneficiaries, ethnic minority people, deep-lying, remote or special areas. Difficult to be provided with regulated services better and better.
Focus on restructuring state budget revenues and expenditures
Other tasks and solutions are to restructure state budget revenues and expenditures, strengthen public debt management, ensure the safety and sustainability of the national financial system. To strictly abide by the principle that loans for offsetting the State budget deficit can only be used for development investment and not used for regular expenditures; To strive to reduce the State budget deficit to a minimum level as set by the National Assembly's resolutions, step by step increase the accumulation for development investment and repayment of loans, increase the state reserve
In particular, to complete the revenue policy in the direction of covering all revenue sources, expanding the collection base, especially new revenue sources, in line with international practices; To increase the proportion of domestic revenue, to ensure a reasonable proportion between indirect taxes and direct taxes, to make good use of revenues from property, natural resources and environmental protection; Increase the share of taxes and fees in total state budget revenues; To minimize the integration of social policies in tax and tax exemption, reduction and relaxation, to ensure the neutrality of taxes, thus contributing to creating a favorable and equitable business environment for investment and business. Invest, regulate the income is reasonable.
Enhancing the exploitation of financial resources from public assets (especially land, natural resources and assets in the public service sector, assets being transport infrastructure) to mobilize capital for economic development. Socio-economic development of the country. Improve the efficiency and effectiveness of the management of collection, inspection and examination; Application of modern information technology and reform of administrative procedures in budget remittance; Both create favorable conditions for taxpayers and prevent transfer or evasion of tax evasion; To renovate, apply measures and skills of tax debt management and coerce the execution of tax administrative decisions and reduce the proportion of outstanding debts.
To step by step restructure state budget expenditures in the direction of increasing the proportion of rational investment expenditures, reducing the proportion of regular expenditures associated with vigorous renovation of the public-service administrative service sector according to the autonomy mechanism. Simplify the machine, payroll, implement wage reform; Improve transparency and efficiency in the areas of recurrent expenditure, development investment. Restructure budget expenditures in each domain, focusing on essential services, state budget must ensure and support.
Institutional improvement, especially policies, tools, indicators for public debt monitoring, public debt management apparatus, ensuring compliance with the Constitution and relevant laws, in accordance with international practice. , To comprehensively control the risk and effectiveness of public debt. Strictly control public debt, national external debt annually within the limits, set goals; Ensure adequate reserve for potential risks; Restructure public debt to minimize debt maturity, refinancing risk, liquidity, exchange rates, interest rates, credit; Ensure full repayment in due time. Close monitoring of lending, use of funds from non-state budget funds for purposes of the budget.
To raise the efficiency of the use of loan capital, step by step narrow the scope of public debt use, focus only on key projects and projects, effectively and ensuring the balance of debt repayment sources; To closely inspect and supervise the use of loans for re-lending. Implement the re-lending mechanism for local governments, credit risk sharing mechanism with re-lending agencies. Limit the maximum level of government guarantee for new loans, limiting the guarantee limit for 02 policy banks to the maximum with the obligation to pay annual loans.
To intensify the supervision of the implementation of the borrowing and self-repayment limits of foreign loans by enterprises in order to ensure the foreign debt safety norms; To review major projects, assess the thin capital status of the foreign-invested enterprises as a basis for forecasting the demand for borrowing by foreign borrowers themselves. industry; To perfect the regime of reporting on foreign debt statistics for self-repayment in service of the work of monitoring and supervision of quotas.
Strengthening the discipline and discipline of finance - state budget and public debt
Strengthening the discipline and discipline of finance - state budget and public debt. Specifically, tightening fiscal discipline, budget, public debt; To make revenues and expenditures within the scope of estimates, borrowings and disbursements within the plans and the limits decided by competent authorities; To promulgate mechanisms and policies only when financial sources are available; To minimize the advance of estimates, transfer of sources and adjustment of the total investment in programs and projects funded with loans; Completely handle construction debt and not generate new debt. To enhance the settlement of completed projects funded by the State capital, thoroughly settle the situation of settlement settlements and strictly implement sanctions for handling of violations in the settlement of completed projects.
Failing to transfer loans for re-lending or guaranteeing the Government into state budget allocations; To not use the state budget to restructure state enterprises, handle bad debts of state-owned commercial banks, grant charter capital to commercial credit institutions, or contribute capital to organizations at financial institutions. Main international. New loans are only made after fully assessing the impact on the size of public debt and medium-term debt repayment capacity.
To continue reforming the control of state budget expenditures along the direction of unifying the process, focusing on the control and payment of State budget expenditures (including regular expenditures and investment expenditures) in association with The clear assignment of responsibilities and powers of the concerned units (financial agencies, state treasuries, state budget-using units); To step up the application of information technology to the expenditure control and revenue management.
Strengthen inspection, examination, auditing, publicity and transparency, accountability for state budget and public debt. To step by step develop budget estimates according to objectives, tasks, economic and technical norms and service charges and commitments.
Strengthening the state administrative apparatus streamlined
To consolidate the state machinery and personnel, raise the efficiency and effectiveness of the state management of finance - state budget and public debts.
Particularly, to step up the streamlining and restructuring of the contingent of cadres and civil servants associated with the reform of the public-duty regime and civil servants. To vigorously reform the process and method of organizing the recruitment, use, payment, evaluation and promotion of cadres; To implement the regime of contract with definite terms for state employees in the spirit of the Resolution of the 4th plenum of the XIIth plenum; Appointment, promotion of staff mainly based on achievements, results of work; To enhance the accountability of the heads of the officials and public employees under their respective management and the performance of their assigned tasks by the agencies or units.
To consolidate the State administrative apparatus in a streamlined, incorruptible, smooth, effective and efficient manner, with a view to further stepping up the decentralization of state management between the Government and the administrations of the provinces and centrally-run cities.
To study, review and adjust the functions, tasks and organizational structure of ministries, branches, central agencies and localities in the direction of streamlining, attaching responsibilities to decide on budget expenditures and public debt. Management of state budget and debt repayment; To ensure the efficiency and effectiveness of management, allocation, balancing of the state budget and debt management, contributing to the achievement of the objectives of controlling budget deficit and public debt objectives in accordance with the Resolution, each Step by step healthy, sustainable development of national finance.
Improve capacity for analysis, assessment, forecasting, planning and adjustment of economic, social, financial and budgetary policies.
According to thoibaotaichinhvietnam.vn