NA sets 2024 State budget collection target at almost 70 billion USD
The National Assembly (NA) on November 10 adopted a resolution on the state budget estimates for 2024, which targets next year’s state budget collection at over 1.7 quadrillion VND (nearly 69.8 billion USD).
The NA adopts the resolution on the state budget estimates for 2024 on November 10. (Photo: VNA)
Hanoi (VNA) – The NationalAssembly (NA) on November 10 adopted a resolution on the state budget estimatesfor 2024, which targets next year’s state budget collection at over 1.7quadrillion✃ VND (nearly 69.8 billion USD).
The resolution won approval from 466 of470 legislators voting at the sitting, part of the ongoing sixth session of the15th NA.
Accordingly, the state budget spendingfor 2024 is set at more than 2.1 quadrillion VND.
The state budget overspending is setat 399.4 trillion VND, equivalent to 3.6% of the gross domestic product (GDP). Itconsists of 372.9 trillion VND in the central budget overspending and 26.5trillion VND in the local budget overspending, respectively equivalent to 3.4%and 0.2% of GDP.
Meanwhile, total borrowings for thestate budget next year are targeted at more than 690.5 trillion VND.
NA deputies of Vinh Phuc province vote on the resolution on November 10. (Photo: VNA)
Theresolution also mentioned the governance of the 2023 state budget and thereform of the salary policy from July 1, 2024.
Itrequested that the Government administer the fiscal policy in a proactive, reasonable,flexible, and effective manner; harmoniously coordinate this policy with themonetary policy and others; ensure timely response to complex developments inthe domestic and international situations to maintain macro-economic stability,control inflation, boost growth, and guarantee major economic balances; andespecially take measures to address the decline in the rates of money mobilisedfrom different sources for the state budget.
TheGovernment also needs to tighten discipline and enhance the sense ofresponsibility among agencies and localities’ leaders towards the finance andbudget management and use, spend the state budget as planned in a thrifty andeffective manner, minimise unnecessary expenditures to reserveresources for disaster and epidemic response, and supplement funding fordevelopment investment and economic recovery, according to the resolution./.
Saigon Beer-Alcohol-Beverage Joint Stock Corporation (SABECO) was honoured for its efforts to overcome difficulties and make great contributions to the State budget during the 2020-2022 period.
The 15th National Assembly is scheduled to approve a salary reform policy in its ongoing sixth plenary session which will hold historical significance and bring about joy for officials and public servants, according to Minister of Home Affairs Pham Thi Thanh Tra.
Vietnam’s State budget collection in the first ten months of this year stood at 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of the estimate, and down 9.2% year-on-year, the Ministry of Finance reported.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
The NA adopts the resolution on the state budget estimates for 2024 on November 10. (Photo: VNA)
NA deputies of Vinh Phuc province vote on the resolution on November 10. (Photo: VNA)
