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National Assembly adopts resolution on 2020 State budget allocation

VNT VNT

November 15, 2019 | 08:24

A resolution on State budget allocation for the year 2020 was recently adopted by the National Assembly.

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At a working session of the National Assembly (Photo: VNA)

The vote was made on November 14th as part of the eighth session of the 14th National Assembly.

With 90.48 percent of approval votes, according to the resolution, central budget collection is set at more than VND 851.76 trillion (USD 36.7 billion), and accumulative local budget collection at over VND 660.53 trillion VND.

Meanwhile, central budget spending is set at over VND 1,069 trillion, including more than VND 367.7 trillion reserved for supplementing the State budget balance and local budgets.

The NA has tasked the Government with assigning tasks in State budget collection, spending and allocation to ministries, central agencies and centrally-run cities and provinces in line with legal regulations. Along with that, the Government is also tasked with the allocation of the remaining capital of the national target programmes on new-style rural area building and on completely treating facilities causing serious environmental pollution.

The Government will implement solutions to restructure public debt in accordance with the Law on Public Debt Management, and instruct People’s Committees of centrally-run cities and provinces to submit budget collection and spending estimates to People’s Councils of the same level for approval.

According to the resolution, the Prime Minister will assign the plans on public investment sourced from the State budget in 2020 to ministries, central agencies and localities before November 30.

Ministries, central agencies and localities will submit detailed allocation plans to the Ministry and Planning and Investment no later than December 31, 2019.

VNT

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