Finance Minister Ho Duc Phoc has affirmed that the State budget is enough for expenditures planned by the National Assembly and the Prime Minister.

Minister of Finance Ho Duc Phoc

The minister made the statement amid misunderstanding among public opinion about the exhaustion of the national budget. He went on explaining that ministries, agencies and localities have saved at least 50 per cent (approx. VND$14.62 trillion or US$635 million) of the spending for conferences and working trips both domestic and international, and 10 percent of other regular expenditures for the 2021 financial year in order to supplement financial resources for the COVID-19 battle and other necessary tasks.

According to Ho, up to VND$21.4 trillion from national budget has been used for anti-pandemic efforts. Meanwhile, the national COVID-19 vaccine fund has raised nearly VND$8.7 trillion.

He also informed that the ministry has proposed measures to support businesses by extending deadlines for payment of duties such as value added tax, corporate tax and personal income tax as well as and land lease payment for this year; reducing telecom and electricity bills, bank interest rates, and environment protection taxes.

The ministry has also suggested the Government announce a relief package worth VND$26 trillion for those who has encountered difficulties amid the pandemic.

Ho added that the ministry will continue recommending measures to the Government and the legislature to increase budget saving, as well as ensure spending for pandemic combat and social welfare, contributing to quick economic recovery and development.

On September 16, minister Ho delivered a brief report on a draft resolution on providing support measures for businesses and people hit by the pandemic during a discussion of the National Assembly (NA) Standing Committee.

These measures are set to be implemented in 2021, helping enterprises and people benefit from approx.VND$118 trillion of taxes, land lease, fees, and charges./.