In 2018, the Finance sector has successfully completed the financial and budgetary tasks, contributing to the successful and comprehensive implementation of socio-economic development objectives. The effective implementation of the Politburo Resolution No. 07-NQ/TW and Resolution No. 25/2016/QH14 of Congress has contributed to macroeconomic stability, strengthening national financial security.
The structure of spending shifted positively, the proportion of spending on development investment reached over 27% (meanwhile, the target was 25-26%). Regular spending is less than 62% of the total state budget expenditure (the target is less than 64%). the state budget overspending is under 3.6% of GDP. he management of budget expenditures is tight and economical, within the budget estimates.
For the past year, the finance sector has promoted the construction and development of institutions, contributing to promoting administrative procedures reform, efficient usage of a state budget, assets, public debt. The Ministry of Finance has actively coordinated closely with the State Bank in operating fiscal and monetary policies.
In Quang Nam, in 2018, the total state budget revenue in the province reached VND 23,537 billion, gaining 119.6% of the estimate, of which domestic revenue was VND 19,132 billion, reaching 123.6% of the estimate; import and export revenue is VND 4,400 billion, reaching 104.7% of the estimate.
Speaking at the conference, Minister Dinh Tien Dung said that in 2019, the financial sector will continue to operate tight fiscal policy, synchronous and flexible coordination with monetary policies to promote production - business development; implementing the objectives, tasks and solutions to restructure the State budget; handling tax arrears, reducing the ratio of tax arrears to less than 5% of the total State budget revenue.
In addition, the financial sector will focus on completing institutions according to the proposed plan; strongly promote administrative reform, modernization, reduce administrative procedures, business conditions in the financial sector, with a focus on taxation, customs, and State Treasury, contributing to improve the business environment, develop businesses, encourage entrepreneurship.