The financial sector will in 2012 give priority to curbing inflation,ensuring macro-economic stability and maintaining an appropriate growthrate in combination with renewing the growth model and restructuring thenational economy.
The 2012 plan was presented by FinanceMinister Vuong Dinh Hue at a conference in Hanoi on Dec. 24 toinitiate financial-banking tasks for 2012.
The Ministersaid thrift practice must continue and spending cut needs to beimplemented more effectively to bring budget overspending down to lessthan 4.8 percent of the country’s GDP.
Next year, market-ruledpricing mechanism needs to follow the set roadmap so a pricing systemrunning basically in line with market principles under the Statemanagement will probably run by 2015, Hue said.
He notedthat the Finance Ministry will pursue the implementation of market priceprinciples in the year, particularly for electricity, coal, petroleumand public services.
It will coordinate with relevant ministriesand agencies to complete management mechanisms for electricity andpetroleum and price stability, Hue said.
Accordingly, theMinistry will work closely with the Government Inspectorate and theState Audit to keep a close eye on sensitive commodities such aselectricity and coal to make their operations more transparent.
Inthe year, the Minister stressed that fiscal policy should becoordinated with monetary policy and other policies to well curbinflation and maintain macroeconomic stability, thus boostingsocio-economic development.
Attention will be also given to working out financial, banking and monetary solutions to support businesses.
TheFinance Ministry has set to work with the Ministry of Planning andInvestment to implement a plan on economic restructuring, targetingState-owned enterprises (SOE), public investments in State budget-usedareas and development investment credits, government bonds and publicinvestment in economic groups and State corporation, with the aim ofbasically completing the process of SOE equitisation by 2015.
Addressingthe event, Deputy Prime Minister Vu Van Ninh stressed that the sectorshould continue completing financial and budgetary mechanisms towardsmobilising every resource and at the same time supplementing andamending the tax system to support businesses.
In 2011, thefinancial sector’s budget collection surpassed its yearly estimation by13.4 percent and increased 20.6 percent over last year. Budgetoverspendings accounted for 4.9 percent of GDP, 0.4 percent lower thanthe estimated level.
By December 31, public debts,government debts, and national debts are estimated to account for 54.6percent, 43.6 percent and 41.5 percent of GDP, respectively, which arewell within the safety limits./.
The 2012 plan was presented by FinanceMinister Vuong Dinh Hue at a conference in Hanoi on Dec. 24 toinitiate financial-banking tasks for 2012.
The Ministersaid thrift practice must continue and spending cut needs to beimplemented more effectively to bring budget overspending down to lessthan 4.8 percent of the country’s GDP.
Next year, market-ruledpricing mechanism needs to follow the set roadmap so a pricing systemrunning basically in line with market principles under the Statemanagement will probably run by 2015, Hue said.
He notedthat the Finance Ministry will pursue the implementation of market priceprinciples in the year, particularly for electricity, coal, petroleumand public services.
It will coordinate with relevant ministriesand agencies to complete management mechanisms for electricity andpetroleum and price stability, Hue said.
Accordingly, theMinistry will work closely with the Government Inspectorate and theState Audit to keep a close eye on sensitive commodities such aselectricity and coal to make their operations more transparent.
Inthe year, the Minister stressed that fiscal policy should becoordinated with monetary policy and other policies to well curbinflation and maintain macroeconomic stability, thus boostingsocio-economic development.
Attention will be also given to working out financial, banking and monetary solutions to support businesses.
TheFinance Ministry has set to work with the Ministry of Planning andInvestment to implement a plan on economic restructuring, targetingState-owned enterprises (SOE), public investments in State budget-usedareas and development investment credits, government bonds and publicinvestment in economic groups and State corporation, with the aim ofbasically completing the process of SOE equitisation by 2015.
Addressingthe event, Deputy Prime Minister Vu Van Ninh stressed that the sectorshould continue completing financial and budgetary mechanisms towardsmobilising every resource and at the same time supplementing andamending the tax system to support businesses.
In 2011, thefinancial sector’s budget collection surpassed its yearly estimation by13.4 percent and increased 20.6 percent over last year. Budgetoverspendings accounted for 4.9 percent of GDP, 0.4 percent lower thanthe estimated level.
By December 31, public debts,government debts, and national debts are estimated to account for 54.6percent, 43.6 percent and 41.5 percent of GDP, respectively, which arewell within the safety limits./.
