Vietnam must stabilise the macro economy in 2016 while ensuring stellar economic growth, according to instructions issued by Prime Minister Nguyen Tan Dung on May 29 on the designing of socio-economic development plans and budget estimates for next year.
The instruction gave the overall target for economic growth in 2016 as over 6.5 percent, driven by economic restructuring and growth model reform.
The agriculture sector will be shaken up with the continued building of new style rural areas and the introduction of high-tech applications into agriculture production. The country will push forward exports and control imports of non-essential commodities.
The investment climate should be greatly improved while administration procedures and government management efficiency will be quickly improved, especially across the fields of tax, customs and social insurance. The move aims to create favourable conditions for both residents and enterprises.
Social security diversification is also a key objective in 2016, with the focus on enhancing labour quality, developing education-training and science-technology, promoting health care socialisation and implementing ethnic and religion policies.
Regarding budget estimates planning, the instruction said budget revenue from export-import activities is set to rise up by 6-8 percent while revenues from tax and fees should be 18-19 percent of the GDP. Domestic revenue estimate (excluding revenue from land use) should be at least 15 percent higher than the estimated figure for this year.
The PM’s instruction also stated out that state budget expenditure estimate for 2016 must be in line with the socio-economic blueprints for 2016 and the 2016-2020 period.
Ministries, branches and localities need to set up budget forecasts in accordance with the government’s fund allocating norms, which priotise defence and security as well as key sectors as defined in Party and National Assembly’s resolutions.-VNA
The instruction gave the overall target for economic growth in 2016 as over 6.5 percent, driven by economic restructuring and growth model reform.
The agriculture sector will be shaken up with the continued building of new style rural areas and the introduction of high-tech applications into agriculture production. The country will push forward exports and control imports of non-essential commodities.
The investment climate should be greatly improved while administration procedures and government management efficiency will be quickly improved, especially across the fields of tax, customs and social insurance. The move aims to create favourable conditions for both residents and enterprises.
Social security diversification is also a key objective in 2016, with the focus on enhancing labour quality, developing education-training and science-technology, promoting health care socialisation and implementing ethnic and religion policies.
Regarding budget estimates planning, the instruction said budget revenue from export-import activities is set to rise up by 6-8 percent while revenues from tax and fees should be 18-19 percent of the GDP. Domestic revenue estimate (excluding revenue from land use) should be at least 15 percent higher than the estimated figure for this year.
The PM’s instruction also stated out that state budget expenditure estimate for 2016 must be in line with the socio-economic blueprints for 2016 and the 2016-2020 period.
Ministries, branches and localities need to set up budget forecasts in accordance with the government’s fund allocating norms, which priotise defence and security as well as key sectors as defined in Party and National Assembly’s resolutions.-VNA
