State budget revenue in 2023 is projected at VND1.62 quadrillion (USD68.5 billion), up 0.4% from 2022, according to a report on state budget, which was exclusively made for the public.
Under the report, recently released by the Ministry of Finance, state budget expenditures would be VND2.07 quadrillion, a rise of 16.3% as compared with this year’s estimate.
Meanwhile, the country’s GDP is expected to grow about 6.5% and GDP per capita income would reach some $4,400. The manufacturing and processing sector is set to make up 25.4 - 25.8% of the national GDP and the consumer price index (CPI) would increase by around 4.5% in the year. The poverty rate is hoped to reduce by 1-1.5%.
The State budget overspending is projected at VND455.5 trillion, equivalent to 4.42% of the national GDP.
The report also introduces major solutions relating to financial and State budget management in the year, focusing on responding to complicated changes in the domestic and international situation, maintaining macro-economic stability, controlling inflation and ensuring major economic balances.
It mentions consolidating the State budget collection system and amending, supplementing and perfecting tax management institutions to ensure the accurate and timely collection of taxes and fees.
The responsibility of leaders of relevant agencies will be promoted and unnecessary expenditures will be cut, according to the report.