What is the Vietnam Financial Budget

Page 'PK-Nr. 1004/2007 '

Vienna (PK) - A delegation from Vietnam that was received in parliament by National Council member Günter Stummvoll (V) this afternoon showed great interest in domestic finance, budget and tax policy. The focus of the visit is on further deepening bilateral relations and an exchange of experience on economic and financial issues, explained the head of the delegation, Phung Quoc Hien. His country, which has just become a member of the WTO, has made great efforts recently and is currently working on a financial and budget reform.

MEP Günter Stummvoll (V) also emphasized the good relations between the two countries, which have deepened since the establishment of the Austrian embassy in Vietnam. As a result, he informed the Vietnamese politicians in detail about the work in the specialist committees, the control instruments in the financial and budget areas, the structural reforms in the areas of pensions, education and labor market policy as well as the plans in the context of the tax reform in 2010. Stummvoll also explained the three cornerstones of the financial policy strategy since 2000, with the stability of the state budget, the relief of the citizens and businesses as well as investments in the future having priority. This bundle of measures has meant that this year a deficit of less than 1% can be achieved and that for the first time the national debt falls below 60% of GDP. (Enough)

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