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Ministry urged to keep public debt under strict control

Deputy Prime Minister Vu Van Ninh has asked the Ministry of Finance to keep public debt under strict control even though it is still within the safe limit, adding that the use of loans must be closely managed in order to achieve the highest efficiency.
Deputy Prime Minister Vu Van Ninh has asked the Ministry of Finance tokeep public debt under strict control even though it is still within thesafe limit, adding that the use of loans must be closely managed inorder to achieve the highest efficiency.

Addressing the ministry’s conference in Hanoi on July 4 to review itsperformance in the January-June period and set tasks for the second halfof the year, the Deputy PM instructed that the sector review the budgetestimates for 2014 and make forecast on possible financial resourcesthat can be mobilized when necessary.

In addition,the ministry should make recommendations to the government and localauthorities in drafting out response plans for emergencies and inexpanding economic and trade relations.

DeputyPM Ninh also required the ministry to intensify inspection of theimplementation of financial policies and regulations as well as marketand price management.

Finance Minister Dinh TienDung said the ministry will continue to coordinate with other ministriesand localities to remove difficulties for production and businessactivities, and at the same time accelerate administrative procedurereform as well as the modernisation of tax and customs management work.

He affirmed that the tax and customs will strive to exceed the target on budget revenues for this year.

Regarding State budget spending, the ministry will focus on speedingup the disbursement of development investment and the settlement ofdebts in capital construction, while ensuring funding for majorsocio-economic tasks.

The restructuring of theeconomy, particularly the re-arrangement of State-owned enterprises, thestock market and insurance companies is also a top task for theremaining months of the year.

Statistics fromthe ministry showed that State budget collection and spending wereestimated at 413.6 trillion VND (19.3 billion USD) and 492.4 trillionVND (23.1 billion USD), respectively in the first six months of thisyear. The figures represent respective rises of 15.8 percent and 8.8percent year-on-year.-VNA
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