Hanoi (VNA) – The National Assemblyapproved a resolution on November 14 towards the allocation of the centralbudget for 2019 with a 90.31 percent approval rate amongst lawmakers.

The resolution has set the goal of nearly 810.1trillion VND (34.8 billion USD) to be collected for the central budget, andabout 601.2 trillion VND (25.8 billion USD) be collected for local budgets in2019.

Meanwhile, the central budget is set to spendalmost 1.02 quadrillion VND (43.8 billion USD) next year, including over 321.3trillion VND (13.8 billion USD) to be used for local budgets and ensuringbudget balance.

The resolution specifies how much of the centralbudget is allocated to each field, ministry, central agency, and nationaltarget programme. It also regulates the permitted overspending level of localbudgets, the level of borrowing to make up for overspending, and the level ofborrowing to pay off original debts of each locality.

The NA has tasked the Government with thecollection and spending of the central budget, as well as the allocation of thebudget to each ministry, central agency, and provincial-level locality.

The Cabinet is assigned to further allocatecapital to effective programmes and projects, while reducing the capitalprovided for sluggish projects to ensure capital efficiency. It is also askedto accelerate programmes and projects of national importance, according to theresolution.

The parliament has assigned the NA StandingCommittee, other NA deputies and committees, and the Vietnam Fatherland Frontto monitor the allocation of the central budget. The State Audit Office is alsorequested to audit the allocation. –VNA