The Vietnamese Finance Minister chaired a meeting on November 28 to discuss measures to finalize the financial targets including State budget plans set by the National Assembly for 2008, and plans to control the consumer prices, which have soared 10 per cent on year, state-run Nhan Dan newspaper reported.
Minister Vu Van Ninh said State budget income is forecast to reach VND287.9 trillion (US$17.99 billion), up 2.1 per cent compared with the estimation, based mainly on the domestic production collection, which is to account for 55.4 per cent of the total this year, up from 52.1 per cent last year.
State budget expenditures will likely reach VND368.34 trillion (US$23.02 billion), up 3.1 per cent from the estimation, accounting for 32.3 per cent of the country’s GDP.
Allocation of State budget for fundamental construction projects remained sluggish, the ministry said.
Prime Minister Nguyen Tan Dung asked the Ministry of Finance to effectively regulate consumer prices, which surged 10 per cent in November, the fastest pace over the past three years, pressuring the country to face with inflation of 9.3 per cent from last year.
The record high of consumer price index is blamed for natural disasters, growing prices of petroleum products in the world market. However, increasing influx of foreign investments is pressuring dong to gain. Between January and November, Vietnam is estimated to have attracted US$15 billion, the highest level over the past years, domestic economists said.
The government of Vietnam has been targeting an annual 1 per cent depreciation against the dollar to boost its exports.
The ministry has set the target of State budget revenues of VND323 trillion next year, up 12.2 per cent compared with the year of estimation. (The People, People’s Army)
Vietnamese
