Politics

NA sets State budget overspending at 6.2 percent of GDP

The 12th National Assembly on Nov. 11 adopted a resolution on estimates of the State’s budget for 2010, and set the overspend for the year at 6.2 percent of gross domestic product (GDP).
The 12th National Assembly on Nov. 11adopted a resolution on estimates of the State’s budget for 2010, andset the overspend for the year at 6.2 percent of gross domestic product(GDP).

According to the Chairman of the NA’sCommittee for Finance and Budgets, Phung Quoc Hien, the NA deputiescontributed 225 opinions to the draft resolution on estimates of theState budget for 2010, which was passed with 84.58 percent of thedeputies in favour.

They also agreed on ways of sticking to the estimates proposed by the Government and the Committee for Finance and Budgets.

The solutions focus on the continued use of strictly controlledflexible fiscal policies to improve efficiency in expenditure.

The NA agreed with the issuing of governmental bonds worth 56 trillionVND, equal to 2009’s figure, for investment in previously plannedprojects.

The NA’s Standing Committee suggested that the deputies agree toincrease the minimum monthly wage to 730,000 VND from May 1, 2010 andto delay service allowances and seniority bonuses for teachers until2010./.
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