NA adopts resolution on State budget allocation for 2020
NA adopts resolution on State budget allocation for 2020
The National Assembly (NA) today, November 14, passed a resolution on the State budget allocation for next year, with an approval ratio of 90.48%.
Accordingly, the NA set the State budget revenue target at nearly VND851.8 trillion (US$36.7 billion) and total local budget collection at over VND660.5 trillion, news site Vietnamplus reported.
In addition, the total central budget expenditure was fixed at nearly VND1.070 quadrillion, including VND367.7 trillion to be given to localities as supplementary funding to balance their budgets.
The NA asked the Government to assign specific budget collection and spending targets and the State budget allocation for ministries, agencies and localities in line with the law.
The Government must also allocate the remaining funding for a national program on new rural development and a target program to discipline establishments caught causing serious environmental pollution.
In addition, the Government was assigned to direct ministries, agencies and localities to allocate capital for priority areas as stipulated in related laws and NA resolutions, prioritizing the capital to pay debt arrears on basic construction projects.
The Government must proactively take steps to restructure public debts in line with the Public Debt Management Law and direct the People’s Committees of cities and provinces to submit their budget collection and spending plans to the People’s Councils of the same level for approval.
Ministries, agencies and localities must assign budget collection and spending plans to agencies in charge of these jobs before December 12 and publish the results of the assignment in line with the State Budget Law.
Moreover, the plans on public investment sourced from the State budget must be assigned to ministries, agencies and localities before November 30. Ministries, agencies and localities will submit detailed allocation plans to the Ministry of Planning and Investment no later than December 31.
