The Ministry of Finance has recently held an online conference to review and evaluate the implementation of financial and State budget tasks in 2024 and outline tasks for 2025. Prime Minister Pham Minh Chinh attended the event. In Binh Duong province, the conference was attended by Vo Van Minh, Deputy Secretary of provincial Party Committee and Chairman of provincial People's Committee, along with leaders from relevant departments and sectors.
In 2024, thanks to proactive management of State budget revenue and expenditure tasks, the finance sector comprehensively achieved its set goals. State budget revenue was estimated at approximately VND 2,025.4 trillion, reaching 119.1% of the target and increasing by 15.5% compared to 2023. State budget expenditure by December 31, 2024, was estimated at around VND 1,830.8 trillion, equivalent to 86.4% of the target. The balance between the central budget and local budget was ensured, with public debt strictly managed and kept below the permitted level…
Contributing to the conference, Mr. Minh provided a summary report on Binh Duong's State budget revenue and expenditure performance as of December 30, 2024. Accordingly, total State budget revenue in 2024 reached VND 75,657 billion, achieving 116.62% of the target set by the Prime Minister, 106.66% of the provincial People's Council's target and 108.9% compared to the same period in 2023. Regarding State budget revenue and expenditure, Mr. Minh highlighted that the province's demand for development investment spending is extremely high. Binh Duong has upheld revenues from land investment to supplement funding for basic construction investments, but this remains insufficient to meet the resource needs for key projects.
As a result, Binh Duong has proposed the Government to provide targeted financial support from central budget to the province; recommended the Government to establish financial mechanisms for key economic localities and preferential mechanisms for provinces and cities with many industrial parks, high annual mechanical population growth, significant numbers of temporary residents…Such measures will allow local authorities to retain an appropriate share of revenue to address growing demands for social welfare, security-order, environmental protection…, thereby creating strong momentum for the province's socio-economic development in the coming time.
Speaking at the conference, Prime Minister Pham Minh Chinh urged the finance sector to make greater efforts to address unresolved issues from 2024, with a particular focus on revenue collection, expenditure saving and prioritizing major projects on railways, expressways, energy... The sector must thoroughly understand domestic and international conditions to implement effective financial policies, maximize solidarity and creativity, achieve the highest possible results in revenue collection and State budget management. This includes striving to meet or exceed revenue targets to ensure resources for socio-economic development goals.
Reported by Thanh Hong-Translated by Kim Tin
