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04 principles for implementing the National Five-Year Financial Plan for the 2021-2025 period

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The national five-year financial plan for the 2021-2025 period should follow four principles. Illustration. Source: internet The Resolution of the 13th Party Congress, the 10-year socio-economic development strategy 2021-2030 and the report on evaluation of the performance of five-year socio-economic development tasks 2016-2020 have oriented socio-economic development goals and tasks for the five years 2021-2025. In which, basic economic-financial indicators are set out such as: The average economic growth rate (GDP) in 5 years is about 6.5-7.0%/year; GDP per capita by 2025 will reach 4,700-5,000 USD. The rate of budget mobilization in the 2021-2025 period will reach 15-16% of GDP; Public debt will gradually decrease, about 47.5% of GDP by 2025, about 43.8% of GDP by 2025. State budget deficit (state budget) in the period 2021-2025 averages 3.7% of GDP. The Resolution of the 13th Party Congress identifies the National Five-Year Budget Financial Plan for the 2021-2025 period in order to mobilize, allocate and effectively use financial resources of the State and society to serve the needs of the public. serving the socio-economic development objectives according to the orientation of the 13th Party Congress; continue to restructure the state budget, ensure safe and sustainable public debt, contribute to stabilizing the macro economy, promote growth, solve social security issues, ensure national defense and security… To meet the above orientation, the national 5-year financial plan for the 2021-2025 period needs to follow the following 4 principles: First, develop an active but cautious state budget-financial plan, contributing to the successful implementation of the Resolution of the 13th Party Congress, stabilizing the macro-economy, promoting economic growth, well solving social problems, national security, uphold national sovereignty; actively integrate into the world and raise the country’s position; while ensuring safety and security of the national financial system. Monday, thoroughly grasping the orientation of building and perfecting the socialist-oriented market economy institution is an important breakthrough, creating a driving force for rapid and sustainable development; renew the growth model, restructure the economy, accelerate industrialization and modernization; building an independent, self-reliant economy and international integration; progress and social justice. Tuesday, continue to restructure the state budget, improve the efficiency and effectiveness of state budget revenues and expenditures, improve fiscal policy room, and the resilience of the national finance in managing and regulating the economy, in line with development level, regional and world integration in the new situation. Wednesday, strengthen discipline, financial-budgetary discipline; transparency; promote accountability; continue to promote reform of administrative procedures in the field of finance-state budget.

Based on the goals and requirements set out in the Resolution of the VIII Party Congress, the 10-year socio-economic development strategy for 2021-2030 and reports at the 13th National Party Congress. The Ministry of Finance is presiding over and coordinating with ministries, central agencies and localities in formulating, reporting to the Government and submitting to the National Assembly for promulgation the 5-year State Budget-Financial Plan for 2021-2025 at the fifth session. First, the 15th National Assembly.
Economic development