National Assembly (NA) deputies approved a Resolution on State Budget Balance for 2013 on June 10 during the 13th NA’s ninth session.

The resolution ratified that in 2013, total State budget collection was 1,084,064 billion VND (49.86 billion USD) and total State budget spending was 1,277,710 billion VND (58.77 billion USD).

Budget overspending was 236,769 billion VND (10.89 billion USD), equal to 6.6 percent of the gross domestic product (GDP) of the year. To compensate for the overspending, the State borrowed 180,347 billion VND (8.29 billion USD) from domestic sources and 56,422 billion VND (2.59 billion USD) from foreign sources.

The resolution assigns the Government to direct ministries and localities to strictly handle violations from organisations and individuals in managing and allocating the State budget and submit the results to the legislature in the 2014 State Budget Balance report.

On the day, lawmakers also heard a report on the draft Law on Hydro-Meteorology and discussed a draft law on adjustments and supplements to several articles of the Law on Accounting.-VNA