Total State budget collection in the first ten months of this year was estimated at VND1.13 quadrillion (US$48.7 billion), or 75.2% of the annual estimate and down 10.3% year-on-year, according to the Ministry of Finance.

The COVID-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.

The Vietnam Oil and Gas Group (PetroVietnam) exploited an estimated 17.32 million tonnes of oil equivalent in the first ten months of this year, surpassing the plan for the period by 2.3%.

The first plenary session of the 14th National Assembly’s 10th meeting was held in Hanoi on November 2 under the chair of NA Chairwoman Nguyen Thi Kim Ngan.

The National Assembly (NA) began the first working day of the second phase of the 10th session on November 2, focusing discussions on socio-economic development issues.

State budget collection is expected to rise 1.5% over 2020, according to a Government report on State budget estimate for 2021, which is being put on discussion before being submitted to the National Assembly.

The National Assembly’s Finance and Budget Committee has agreed not to adjust the minimum wage in 2021 and has warned about the pressure on public debt payment.

The National Assembly (NA)’s Standing Committee has adopted a resolution on additional funding for the purchase of rice to refill the national stockpile.

Vietnam is making all-out efforts to boost the disbursement of public investment as it seeks to post GDP growth of 3% this year amid the global economic downturn triggered by the COVID-19 pandemic.

The National Assembly’s Standing Committee has issued a resolution on the development strategy for the State Audit Office of Vietnam (SAV) in the period from 2021 to 2030.