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Flexible fiscal policies to be implemented to ensure fast, sustainable growth: Minister

by NDO/VNA12 November 2021 Last updated at 16:00 PM

Minister of Finance Ho Duc Phoc (Photo: VNA)
Minister of Finance Ho Duc Phoc (Photo: VNA)

VTV.vn - Minister of Finance Ho Duc Phoc on November 12 answered National Assembly deputies’ questions related to fiscal policies, State budget collection, public debts and budget overspending.

Phoc said that his ministry has proposed the Government and NA tax payment extension and delay during the implementation of tax policies in 2021, while focusing on collecting taxes on digital platforms and e-commerce floors, and issuing e-receipts to avoid fake invoices for the purpose of tax refund fraud and tax avoidance.

According to the minister, the public debt level of 2021 is 56.8 percent, exceeding the warning ratio of 54 percent, which is a concerning issue. He affirmed support for demand stimulation packages for economic development, but in the other hand pointed out problems in the absorbing capacity of the economy while implementing the packages.

Explaining the low level of public investment disbursement, Phoc held that the major reasons included institution-related matters, slow ground clearance and project building.

Regarding the US$2-billion investment package for sustainable development of the Mekong Delta region, he said that this is not an amount to make up the budget overspending but a loan for implementing projects in the region.

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