The Prime Minister attended and directed the conference summarizing the Finance sector.

Comrade Nguyen Xuan Phuc - Member of the Politburo,Prime MinisterAttending the conference were also representatives of leaders of a number of Party and National Assembly agencies; representatives of leaders of the Government Office; leaders of ministries, branches, central agencies; leaders of localities and financial agencies at local bridges.

At Nghe An, comrade Le Hong Vinh - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee chaired.

Prime Minister Nguyen Xuan Phuc congratulated the Finance sector on successfully completing its tasks in 2020. Photo: VNA

National budget revenue in 2020 reached 1.5 million billion VND

The Ministry of Finance's report said: In the context of general difficulties, under the direction of the Party, the National Assembly, the Government and the Prime Minister, the entire Finance sector has united, unanimously and determined to complete the state financial and budget tasks in 2020.

The national budget revenue in 2020 reached 1.5 million billion VND, an increase of 184,000 billion VND compared to the previous report to the National Assembly.

The report of the Ministry of Finance also shows: The total amount of tax and budget revenue extended, exempted, and reduced according to issued policies by the end of November 2020 reached about 100 trillion VND, estimated to reach about 117.5 trillion VND for the whole year (of which the amount of tax, fees, charges and land rent extended is about 87.3 trillion VND; the amount exempted and reduced is about 30.2 trillion VND).

Comrade Le Hong Vinh - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee chaired at Nghe An bridge. Photo: Quang An.

The accumulated state budget expenditure in the first 11 months of 2020 reached 1,369.6 trillion VND, equal to 78.4% of the estimate, up 8.5% over the same period in 2019. To date, the state budget has spent about 17.9 trillion VND on epidemic prevention and control and supporting people in difficulty due to the Covid-19 pandemic; the central budget has used more than 4.54 trillion VND in reserves to overcome the consequences of natural disasters, floods and African swine fever. In addition, nearly 32.95 thousand tons of national reserve rice have been issued for relief, hunger relief for people, and to overcome the consequences.natural disastersand the beginning of the year.

Speaking at the Conference, Prime Minister Nguyen Xuan Phuc commended and highly appreciated the efforts ofFinance, has comprehensively and excellently completed its tasks not only in the past 5 years but also in 2020, a year full of difficulties and challenges.

The Prime Minister highly appreciated the industry's advice on many policies to overcome natural disasters and epidemics, stabilize people's lives. Timely deploying many solutions to support businesses and taxpayers, proactively and positively operating fiscal policies, and effectively reforming administrative procedures. Being the focal agency proactively coordinating with industries to effectively implement financial and fiscal policies at the macro level, together with the Government, well performing the "dual task" of both preventing and fighting epidemics and recovering and developing the economy and society.

The Prime Minister assigned important tasks to the Finance sector in 2021 and the next 5 years, which are to well implement the assigned financial budget targets and objectives. The Prime Minister also reiterated the tasks of the Finance sector: Based on production, mobilizing and liberating many resources of the country.

The year 2021 is of special importance, as it is the year of the 13th National Congress of the Party, the election of the 15th National Assembly, and the election of People's Councils at all levels. This is also the first year of implementing the 10-year Socio-Economic Development Strategy (2021 - 2030) and the 5-year Socio-Economic Development Plan (2021 - 2025) according to the conclusions and resolutions of the Party and the National Assembly. With such important meanings, through the Conference, the Ministry of Finance needs to clearly define the goals, as well as the financial and state budget tasks to be implemented in 2021 and the following years.

2020 was a year of severe natural disasters. Photo: Natural disasters caused damage in Thanh Chuong district, Nghe An. Photo courtesy

In 2020, Nghe An's state budget revenue in 2020 reached 17,363 billion VND, reaching 111.6% of the adjusted People's Council estimate, up 7.3% over the same period in 2019. Of which: Domestic revenue was 16,186 billion VND, reaching 117.6% of the estimate, up 11.3% over the same period; Excluding land use fees and lottery revenue, domestic revenue was 11,104 billion VND, reaching 100.7% of the estimate, up 4.8% over the same period; Revenue from import-export activities was 1,178 billion VND, reaching 65.5% of the estimate, equal to 72.1% over the same period. State budget expenditure in 2020 was 29,688 billion VND, reaching 108.1% of the adjusted Provincial People's Council estimate.