Finance Minister Dinh Tien Dung (Source: VNA)
Hanoi (VNA) – Some members of the National Assembly’s Finance and Budget Committee suggested the government increase monthly basic salary by 7 percent to 1.3 million VND (59 USD) in 2017 at the fourth session of the NA’s Standing Committee in Hanoi on October 17.

The salary rise should be coupled with streamlining and rearranging the State apparatus personnel and improving productivity, they noted, asking the Government to take into consideration which resources could be pooled for the scheme.

The Government estimated that 2017’s State budget deficit would account for 3.5 percent of the gross domestic product (GDP), making the figure under the 2015 State Budget Law.

Regarding this, head of the committee Nguyen Duc Hai assessed that the deficit should be kept at that level as it can ensure the safety of public debts between 2017 and 2020.

The committee also gave nod to the government’s proposal to save as much regular spending as possible, thereby easing pressure on public spending.

According to the Cabinet, the total revenue to the State budget this year is expected to be 2.4 percent higher than the estimate, reaching 24.5 trillion VND. Revenue from crude oil accounts for 72.5 percent of the estimate.

The budget deficit is estimated at 254 trillion VND (11.54 billion USD), the same amount as decided by the National Assembly; of which public, government and foreign debts make up for 64.98 percent, 53.1 percent and 45.7 percent of the GDP, respectively.

In the morning, NA Chairwoman Nguyen Thi Kim Ngan launched a fundraising in support of residents in the central region hard hit by devastating rains and floods.

In the afternoon, the committee continued discussing above contents.-VNA