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Budget overspending is estimated to reach 222 trillion VND, or 3.6 percent of the gross domestic product (GDP), in which central budget overspending will be 209.5 trillion VND and local budget overspending 12.5 trillion VND. The total state loans will top 425.2 trillion VND.

National Assembly deputies press button to approve the resolution on State budget estimates for 2019 at the 14th NA's sixth session.

The legislature agreed to use 10.38 trillion VND left from the central budget in 2017 to offset lower State and local budget collections and assist localities lacking funds to pay salaries.

As much as 138.5 billion VND funded by the World Bank will be used for banking management and the modernization project during the 2016-2020 period, while more than 79.8 billion VND in non-refundable official development assistance sourced from the Republic of Ireland’s Government will be allocated to a project on supporting particularly disadvantaged communes.

Upwards of 8.2 billion VND will be provided for the northern province of Cao Bang and over 14.8 billion VND for Bac Kan province to support farming households.

Up to 70 billion VND in non-refundable aid from the Belgian Government will be used for a project on water resource management and urban development amidst the impacts of climate change in the central province of Binh Thuan.

The legislative body urged the Government to closely direct fiscal policy and combine it with monetary policies to develop production, stabilize the macro-economy, curb inflation, and promote economic growth.

The Cabinet was also required to intensify inspections to ensure the transparent use of State budget, as well as the prevention of trade frauds, tax loss, and transfer pricing.

State budget collection hits over 623 trillion VND in eight months

The total State budget collection hit upwards 623.2 trillion VND (27 billion USD) in the first eight months this year, meeting 64.4 percent of the yearly estimate and rising by 10.8 percent annually, reported the General Department of Taxation. 

 

Bac Giang focuses on budget collection, land clearance for key projects

(BGO) - Chairman of the Bac Giang Province People’s Committee Nguyen Van Linh has recently chaired a meeting with heads of provincial departments and district-level People’s Committees with the participation of his deputies Duong Van Thai and Nguyen Thi Thu Ha.

 

Budget revenue meets 80.2% of the year’s estimate during Jan-Oct

Vietnam’s total budget revenue reached VND972.6 trillion (US$42.8 billion) in the first ten months of 2017, equivalent to 80.2% of the year’s estimate and up 13.8% compared to the same period last year, announced the Finance Ministry (MOF).  

 

NA adopts resolution on State budget estimate for 2018

The National Assembly adopts the resolution on State budget estimate for 2018 with 86.56 percent of approval. 

 

Bac Giang discusses investment capital disbursement, budget revenue

(BGO) – The Bac Giang provincial People’s Committee held a monthly meeting on November 16, focusing on local socio-economic development in 2017 and development tasks and solutions for next year.

 

Source: VNA