Politics

NA considers reports on State budget balance

The National Assembly heard reports on State budget balance and audit in 2015 by government members during a working session in Hanoi on May 22, under the chair of NA Vice Chairman Phung Quoc Hien.
NA considers reports on State budget balance ảnh 1Finance Minister Dinh Tien Dung (Source: VNA) 
Hanoi (VNA) – The NationalAssembly (NA) heard reports on State budget balance and audit in 2015 by governmentmembers during a working session in Hanoi on May 22, under the chair of NA ViceChairman Phung Quoc Hien.

Delivering the report on Statebudget balance in 2015, Finance Minister Dinh Tien Dung said the total Statebudget collection in 2015 hit over 1,291 trillion VND while spending was 1,502trillion VND due to increasing demand for infrastructure and social welfares.

The report pointed out that theeffective implementation of synchronous measures to recover economic growth aswell as the efforts of the whole political system greatly contributed to the2015 budget collection-spending. Spending on development investment roserationally, with priority given to agriculture and rural areas, mountainouslocalities, the Central Highlands, poverty reduction, and social security.

However, there remained shortcomings in the management of State budget in someunits and localities, it said.
 
Nguyen Duc Hai, head of the NA’sFinance-Budget Committee, said the government debts reached half of the grossdomestic product (GDP) while public debts accounted for 61.8 percent of GDP, admittingshortcomings in public debt management.

Meanwhile, the report on thedraft Law on amendments and supplements to several articles of the Law onCredit Organisations said after four years of implementing the project onrestructuring credit organisations for the 2011-2015 period, besides certainresults, there were still many shortcomings which were attributed to limitedmechanisms and policies.

The NA’s Economic Committee stressedthe need to make the law to build a system of financially healthy credit organisationswhich operate under international rules.

It asked compiling agencies to continue reviewing regulations in the draft lawto ensure that they are synchronous with the Constitution and relevant laws.

Governor of the State Bank ofVietnam Le Minh Hung presented a report on the draft resolution on dealing withbad debts by credit organisations, under which, he called for refining the legalframework to protect the rights of credit organisations as legal lenders.

The draft resolution comprises 18articles regarding the rights of lenders and the development of debt markets,settlement of guaranteed assets, among others.

As scheduled, lawmakers willdiscuss in groups the draft programme on law and ordinance building and thesupervisory programme of the NA in 2018.-VNA
VNA
#National Assembly #State budget balance #audit #NA Vice Chairman Phung Quoc Hien #spending #Law on Credit Organisations Vietnam
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