Budget balance. Illustrative image

HA NOI (Biz Hub) — Newly-appointed Minister of Finance Dinh Tien Dung has said that finance authorities would continue with tight fiscal policies to stabilise the economy, control inflation and accelerate growth.

In what his termed "a major direction" for coming months, he said top priorities were to balance State budget revenues and spending, intensify fiscal discipline and guarantee transparency in policy implementation.

"I'll spend most of my time studying measures to handle tax-revenue losses, assuring national financial security, innovating tax and fee policies, and enhancing price-management for essential goods such as petrol, electricity and public services," he said.

He said the ministry would continue to help enterprises solve difficulties, assist markets and deal with bad debts.

It would also promptly apply revised laws on corporate income and value-added taxes if they were adopted by the National Assembly.

In a context that this year's State budget balancing goals were difficult to be achieved — according to a recent Government report before the NA — Dung said major solutions should be solving budget losses, economising expenses, and stimulating production, business development and consumption.

He said social welfare and important projects would be given priority while cutting car purchases, meetings and the use of power, water and phones.

Former State Audit chief Dinh Tien Dung assumed the ministerial office last Friday. — VNS