A corner of Hanoi (Photo: VNA) Hanoi (VNA) – Many lawmakers on June 9 agreedthat a resolution piloting some special financial and budget mechanisms andpolicies should be promulgated for Hanoi to enable its stronger development,while discussing in groups at the ongoing ninth session of the 14th NationalAssembly.
However, in the context of socio-economicdifficulties caused by COVID-19, legislators held that the mechanisms should bebuilt in accordance with the country’s general development trends as well asthe State budget balance.
According to the Government draft contents ofthe resolution, the ceiling of debts would be increased from 70 percent to 90percent in the principle that the capital city must ensure its solvency.
The city would be allowed to use the financialreserve fund to invest in infrastructure. It must ensure the recovery of themoney within 36 months.
It would also be allowed to use the remainder ofthe salary reform source to spend on development investment projects andimplement social security systems and policies.
The city could use regular funding of severalunits for investment purposes in small-scale and capital construction projects.
Regarding the authority to decide on the supplementationand increase on charges and fees, the Committee for Finance and Budget agreedwith the Government’s proposal on allowing the city to increase charge ratesbut not exceeding 1.5 times compared to current levels for all types ofcharges.
The specific increase on charges and fees wouldbe decided by the city People's Council based on the practical demand andconsent of the people./.
VNA
