After the merger, the Ministry of Finance and Planning & Investment is expected to no longer have a general department

The above information was stated by Minister of Finance Nguyen Van Thang at the financial industry summary conference on the afternoon of December 31.

According to the plan to orient, arrange and streamline the organization of the Government’s apparatus, the two Ministries of Planning & Investment and Finance will merge, named the Ministry of Finance and Investment and Development or the Ministry of Economic Development. . This Ministry manages the State’s sectors and fields assigned to the two agencies, such as planning, public investment, budget, public assets…

Minister Nguyen Van Thang said that one of his tasks next year is to arrange to soon put the new apparatus into operation, ensuring streamlining and efficiency. “The financial industry will build a team of civil servants to meet task requirements in the new situation, dare to think, dare to do and take responsibility,” he said.

It is expected that after the merger, the number of focal points of the two ministries will decrease by over 2,650 units, equivalent to 31.4%. This agency is not expected to maintain the general department model, according to Minister Thang.

Currently, the two Ministries of Finance, Planning and Investment have 56 focal points. Of which, each ministry has 28 focal points, including 47 administrative focal points (6 general departments, 14 departments, 27 departments, offices, inspections), 9 public service units. Six units are operating under the general department model under two ministries including the General Department of Taxation, Customs, Statistics, Reserves, State Treasury, and Securities Commission.

Prime Minister Pham Minh Chinh proposed that the financial sector focus on organizing its apparatus to ensure streamlining and efficiency. “Only work, no backtracking,” he reiterated, adding that the merger of the two ministries must be done soon and decisively. Regarding the requirements for arrangement, he said that the post-merger apparatus will be headed by a chief, while the deputy can remain the same until the end of the term.

During the arrangement process, the Prime Minister emphasized that units must make sacrifices, work together, and develop. “Ideology must be clear and internally unified to choose people with enthusiasm and responsibility in State management,” he said.

This year, the Prime Minister assigned a budget revenue target exceeding 10% of the estimate assigned by the National Assembly. This is to ensure there is an estimated source of expenditure, reform salaries, and handle unexpected and arising tasks.

According to a report from the Ministry of Finance, the whole year’s budget revenue exceeded VND 324,400 billion compared to the estimate, an increase of 15.5% over the same period last year. This is also the first time budget revenue has exceeded 2 million billion VND.

The two economic engines Hanoi and Ho Chi Minh City set a record for budget revenue this year, exceeding VND 500,000 billion. Revenue from these two localities together accounts for 25.7-25.8% of the national revenue estimate. Some other localities also have large revenues, such as Hai Phong (117,362 billion VND), Da Nang (26,789 billion VND), Binh Duong (75,512 billion VND)…

Also according to the report, it is estimated that by December 31, budget expenditure will reach about 1.83 million billion VND, equal to 86.4% of the estimate. Of which, development investment expenditure is about 78.1% assigned by the National Assembly, regular expenditure is 94.5% of the estimate.

In addition to budget revenue and expenditure, public debt continues to be tightly managed, about 36-37% of GDP, lower than the allowed threshold. Government debt is about 33-34% of GDP, direct debt repayment obligations to the Government are 20-21% compared to budget revenue.

2025 is an important year to “accelerate and reach the finish line” in the 2021-2015 term. However, the world and regional situation is forecast to continue to be unpredictable. Prime Minister Pham Minh Chinh requested the Ministry of Finance to prioritize resources and human resources for institutional review and resolution. This agency must proactively manage fiscal policy to maintain macroeconomic stability, control inflation, budget overspending and public debt.

The Ministry of Finance is also assigned to have solutions to increase revenue loss, manage new revenue sources from e-commerce, collect outstanding debts… These are aimed at achieving the goal of striving for 2025 budget revenue to exceed 10% compared to this year.

Regarding budget expenditures, the Prime Minister requested to save 10% of regular expenditure estimates and increase disbursement of public investment capital to create motivation for economic recovery and growth. . This is to ensure resources for important tasks, such as restructuring, streamlining the apparatus, and economic recovery and growth.