In the NA meeting (Source: VNA) Hanoi (VNA) – The National Assembly adopted theResolution on State budget estimate for 2018 during its ongoing fourth sessionin Hanoi on November 13 with 86.56 percent of approval
Accordingly, the total State budget collection will stand at1.319 quadrillion VND (58.1 billion USD) while the State budget spending will be1.523 quadrillion VND.
The State budget overspending is estimated at 204 trillionVND, or 3.7 percent of the gross domestic product. Of the figure, 195 trillionVND will be the central budget over-expenditure and the remaining will be localbudget overspending.
The total loan of the State budget will amount to 363,284billion VND.
The NA suggested that the government bond capital should be14.033 trillion VND and non-State capital be revised up to the same amount. Thetotal government bond issuance should not be more than 50 trillion VND.
The legislature requested the government direct the fiscalpolicy with caution and enhance inspection over the use of State capital,towards reducing delayed tax payment to below 5 percent of the total State revenuecollection.
The government must seriously follow the Law on Thrift Practiceand Wastefulness Prevention, the Law on Anti-Corruption and the Law on PublicAsset Management and Use.
It was also required to revise up monthly basic salary from1.3 million VND to 1.39 million VND, and adjust monthly allowances, pension andpreferential subsidies starting from July 1, 2018.
At the same time, the government must direct agencies andlocalities to arrange administrative units in efficient operations bystreamlining personnel on State payroll.
Resolution No.25/2016/QH14 on the national fiscal planfor 2016-2020 must be closely followed.-VNA
Accordingly, the total State budget collection will stand at1.319 quadrillion VND (58.1 billion USD) while the State budget spending will be1.523 quadrillion VND.
The State budget overspending is estimated at 204 trillionVND, or 3.7 percent of the gross domestic product. Of the figure, 195 trillionVND will be the central budget over-expenditure and the remaining will be localbudget overspending.
The total loan of the State budget will amount to 363,284billion VND.
The NA suggested that the government bond capital should be14.033 trillion VND and non-State capital be revised up to the same amount. Thetotal government bond issuance should not be more than 50 trillion VND.
The legislature requested the government direct the fiscalpolicy with caution and enhance inspection over the use of State capital,towards reducing delayed tax payment to below 5 percent of the total State revenuecollection.
The government must seriously follow the Law on Thrift Practiceand Wastefulness Prevention, the Law on Anti-Corruption and the Law on PublicAsset Management and Use.
It was also required to revise up monthly basic salary from1.3 million VND to 1.39 million VND, and adjust monthly allowances, pension andpreferential subsidies starting from July 1, 2018.
At the same time, the government must direct agencies andlocalities to arrange administrative units in efficient operations bystreamlining personnel on State payroll.
Resolution No.25/2016/QH14 on the national fiscal planfor 2016-2020 must be closely followed.-VNA
VNA
