At the meeting (Source: VNA) Hanoi (VNA) – The 12th National Assembly approved the Statebudget projection for 2019, with an approval rate of 86.19, during its ongoing sixthsession in Hanoi on November 9.
Accordingly,the total State budget collection will reach over 1.411 quadrillion VND (61.34billion USD), while the total spending will hit more than 1.633 quadrillionVND, resulting in a deficit of 222 trillion VND, or 3.6 percent of the grossdomestic product. The total State loans will top 425.2 trillion VND.
Thelegislature agreed to earmark 10.38 trillion VND to offset lower State andlocal budget collection and assist localities lacking funds to pay salaries –the value of which had already been stipulated in the 2017 State budgetspending plans.
TheGovernment was asked to review the funding of over 12.254 trillion VND for useduring 2018.
Asmuch as 138.5 trillion VND funded by the World Bank will be used for bankingmanagement and the modernisation project during the 2016-2020 period, whilemore than 79.8 billion VND in non-refundable official development assistancesourced from the Republic of Ireland’s Government will be allocated to aproject on supporting especially disadvantaged communes.
Upwardsof 8.2 billion VND will be provided for the northern province of Cao Bang andover 14.8 billion VND for Bac Kan province to support farming households.
Upto 70 billion VND in non-refundable aid from the Belgian Government will beused for a project on water resource management and urban development amidstclimate change impact in the central province of Binh Thuan.
Thelegislature urged the Government to closely direct fiscal policy and combine itwith monetary policies to develop production, stabilise the macro-economy, curbinflation, and promote economic growth.
TheCabinet was also required to step up its autonomy mechanism in publicadministration units, as well as renew the operation mechanism of State fundsand the special financial mechanisms in several agencies in line with the Lawon State Budget.
Thebasic monthly salary will be revised up from 1.39 million VND to 1.49 millionVND, while pensions, social insurance entitlements, and subsidies to veteran revolutionarieswill increase from July 1, 2019.
TheGovernment will direct ministries, agencies, and localities to streamlinepersonnel, restructure each sector’s budget, reduce overspending, and closelycontrol the use of foreign and government-guaranteed loans to ensure they arewithin the limits of the legislature’s Resolution No.25/2016/QH14. –VNA
Accordingly,the total State budget collection will reach over 1.411 quadrillion VND (61.34billion USD), while the total spending will hit more than 1.633 quadrillionVND, resulting in a deficit of 222 trillion VND, or 3.6 percent of the grossdomestic product. The total State loans will top 425.2 trillion VND.
Thelegislature agreed to earmark 10.38 trillion VND to offset lower State andlocal budget collection and assist localities lacking funds to pay salaries –the value of which had already been stipulated in the 2017 State budgetspending plans.
TheGovernment was asked to review the funding of over 12.254 trillion VND for useduring 2018.
Asmuch as 138.5 trillion VND funded by the World Bank will be used for bankingmanagement and the modernisation project during the 2016-2020 period, whilemore than 79.8 billion VND in non-refundable official development assistancesourced from the Republic of Ireland’s Government will be allocated to aproject on supporting especially disadvantaged communes.
Upwardsof 8.2 billion VND will be provided for the northern province of Cao Bang andover 14.8 billion VND for Bac Kan province to support farming households.
Upto 70 billion VND in non-refundable aid from the Belgian Government will beused for a project on water resource management and urban development amidstclimate change impact in the central province of Binh Thuan.
Thelegislature urged the Government to closely direct fiscal policy and combine itwith monetary policies to develop production, stabilise the macro-economy, curbinflation, and promote economic growth.
TheCabinet was also required to step up its autonomy mechanism in publicadministration units, as well as renew the operation mechanism of State fundsand the special financial mechanisms in several agencies in line with the Lawon State Budget.
Thebasic monthly salary will be revised up from 1.39 million VND to 1.49 millionVND, while pensions, social insurance entitlements, and subsidies to veteran revolutionarieswill increase from July 1, 2019.
TheGovernment will direct ministries, agencies, and localities to streamlinepersonnel, restructure each sector’s budget, reduce overspending, and closelycontrol the use of foreign and government-guaranteed loans to ensure they arewithin the limits of the legislature’s Resolution No.25/2016/QH14. –VNA
VNA
