November 14, 2024
HANOI – The National Assembly passed a resolution on state budget allocation plan for 2025 with all 432 deputies present at the Wednesday afternoon sitting voting in favour.
The resolution specifies that the total Central budget revenue is set at over VNĐ1.020 quadrillion (US$39.4 billion), while the total local budget revenue is over VNĐ946.67 trillion.
The NA decided to allocate VNĐ60 trillion from the State budget’s accumulated funds for wage reform, while transferring over VNĐ50.6 trillion from the local budget’s wage reform funds left from 2024 to the 2025 budget.
Meanwhile, the total Central budget expenditure is over VNĐ1.523 quadrillion, including an estimated allocation of VNĐ248.78 trillion to balance the budget.
The NA requested the Government to direct and guide ministries, central and local agencies, and provincial and municipal authorities to allocate State budget funds in a focused and prioritised manner, ensuring compliance with the conditions and order of priorities outlined in the Law on Public Investment, as well as resolutions of the NA and the NA Standing Committee.
The legislature also demanded stricter financial discipline and accountability, and severe penalties for violations that delay the allocation and disbursement of funds.
Earlier the same day, the NA approved a resolution on state budget estimates for 2025 with 428 out of 430 legislators present at the sitting voting in favour.