Resolution on state budget allocation plan for 2024 adopted

The resolution won approval from 444 NA deputies, accounting for 89.88% of legislators voting at the sitting, which took place as part of the ongoing sixth session of the 15th legislature.

According to details set out in the resolution, next year’s central state budget collection is set at nearly VND852.7 trillion, equal to US$35.05 billion, while the local budget collection is over VND848.3 trillion.

The central state budget spending for 2024 is estimated to stand at VND1.22 quadrillion, including nearly VND426.3 trillion in order to balance the budget and additionally allocate to local budgets.

The NA has therefore asked the Government to assign ministries, central agencies, and centrally-run localities to make plans for budget collection, spending, and allocation following the Law on State Budget and NA resolutions.

The Government has also been urged to direct and instruct ministries, agencies, and localities in allocating the state budget concentratedly, effectively, and lawfully.

The ministries, agencies, and localities are required to arrange sufficient capital for public investment projects which are expected to become operational before 2024, together with reciprocal capital in ODA projects and those using preferential foreign loans and State capital ratio at public-private partnership projects.

They must also arrange capital for key national projects or inter-regional projects which is of great significance as part of efforts in spurring further socio-economic development.

Moving forward, investment for new projects will be considered and allocated after the prioritised projects receive enough funding.