The Government has just issued Resolution No. 119/NQ-CP dated August 7, 2024 on the scope and subjects of saving 5% of regular expenditure in 2024.
The Resolution clearly states that 5% of regular state budget expenditures will be saved and cut; deducted fee revenues will be retained, career revenues and other revenues will be retained according to the regime assigned at the beginning of 2024 for regular expenditures of budget units under ministries, central agencies, and People's Committees of provinces and centrally run cities after excluding the following items:
1- Salary expenses, of a salary nature and expenses for people.
2- Expenditures according to international commitments.
3- Funds for implementing procurement and repair tasks according to contracts for the supply of goods and services signed before the date the Government issued this Resolution and continued to be implemented in 2024; bidding packages whose contractor selection results were approved before the date the Government issued this Resolution.
4- Funding for implementing certain special and important political and professional tasks shall not be reduced.
Details of the contents that are not subject to cuts or savings can be read here.
The Government requires heads of budget-using units to determine the amount of reduced and saved funds and send them to the superior management agencies for review and synthesis. Ministers, heads of central agencies, and Chairmen of People's Committees at all levels decide on the amount of reduced and saved funds of their affiliated agencies and units, detailed by each spending area (including agencies and administrative units that have been assigned the mechanism of autonomy and self-responsibility for the use of payroll and administrative management funds; public service units that have been assigned the right to autonomy and self-responsibility for performing tasks, organizing apparatus, payroll and finance; agencies and units that regularly spend on deducted and retained fee revenues and retained professional revenues) and send them to the State Treasury for spending control (*).
Synthesize and report on cost reduction and savings to the Ministry of Finance before August 20, 2024.
The resolution clearly states that the budget for cuts and savings is managed as follows:
Ministries, central agencies, People's Committees of provinces and centrally run cities shall synthesize and report on the budget for cuts and savings to the Ministry of Finance before August 20, 2024 to synthesize the amount of cuts and savings in regular state budget expenditures of ministries, central agencies (except the Ministry of National Defense and the Ministry of Public Security) and localities to synthesize and report to the Government for reporting to competent authorities for consideration and decision.
The budget for cutting and saving management costs of Vietnam Social Security shall be paid to the respective Social Insurance Funds, Unemployment Insurance Funds, and Health Insurance Funds. The budget for cutting and saving of the Vietnam General Confederation of Labor from the revenue of 2% of the trade union fund transferred to the following year shall be used according to the provisions at. For the lump-sum budget of the State Bank of Vietnam according to the provisions of Decision No. 07/2013/QD-TTg dated January 24, 2013 of the Prime Minister on the financial regime of the State Bank of Vietnam, the reduction and saving shall be implemented when developing the lump-sum budget plan for 2024.
For the reduction and savings from the fee revenue source that is deducted and left over according to the provisions of the law on fees and charges: Based on the reduction and savings decision of the competent authority, the implementing agencies and units shall submit the reduction and savings to the state budget. By the end of the fiscal year, in case the revenue fluctuates compared to the estimate assigned at the beginning of the year, the head of the agency or unit shall be responsible for reporting to the superior management agency to decide to adjust the reduction and savings as prescribed in (*).
Regarding the budget for reduction and savings from career revenue and other retained revenue: Based on the decision to reduce and save by the governing body, agencies and units shall allocate to the unit's career development fund to increase investment in career development. By the end of the fiscal year, if the revenue fluctuates compared to the estimate assigned at the beginning of the year, the head of the agency or unit shall be responsible for reporting to the superior management agency to decide to adjust the budget for reduction and savings as prescribed in (*)./.
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