NA adopts resolution on State budget estimate

The National Assembly adopted the Resolution on State budget estimate for 2018 during its ongoing fourth session in Hanoi on November 13 with 86.56 percent of approval.

na adopts resolution on state budget estimate hinh 0
Accordingly, the total State budget collection will stand at VND1.319 quadrillion (US$58.1 billion) while the State budget spending will be VND1.523 quadrillion. 

The State budget overspending is estimated at VND204 trillion, or 3.7 percent of the gross domestic product. Of the figure, VND195 trillion will be the central budget over-expenditure and the remaining will be local budget overspending. 

The total loan of the State budget will amount to VND363,284 billion. 

The NA suggested that the government bond capital should be VND14.033 trillion and non-State capital be revised up to the same amount. The total government bond issuance should not be more than VND50 trillion. 

The legislature requested the government direct the fiscal policy with caution and enhance inspection over the use of State capital, towards reducing delayed tax payment to below 5 percent of the total State revenue collection. 

The government must seriously follow the Law on Thrift Practice and Wastefulness Prevention, the Law on Anti-Corruption and the Law on Public Asset Management and Use. 

It was also required to revise up monthly basic salary from VND1.3 million to VND1.39 million, and adjust monthly allowances, pension and preferential subsidies starting from July 1, 2018. 

At the same time, the government must direct agencies and localities to arrange administrative units in efficient operations by streamlining personnel on State payroll. 

Resolution No.25/2016/QH14 on the national fiscal plan for 2016-2020 must be closely followed.


VNA

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