Approval of Resolution on State budget estimate for 2025

The National Assembly has approved the state budget estimate for 2025, specifically state budget revenue is 1,966,839 billion VND; total state budget expenditure is 2,548,958 billion VND.

The National Assembly passed a Resolution on the state budget estimate for 2025.

Continuing the session agenda, on the morning of November 13, with 428/430 delegates in favor, the National Assembly voted to pass the Resolution on the state budget estimate for 2025.

The Draft Resolution on the State Budget Estimate for 2025 resolves to approve the State Budget Estimate for 2025. Specifically, the State budget revenue is 1,966,839 billion VND (one million, nine hundred and sixty-six thousand, eight hundred and thirty-nine billion VND). Of which, 60,000 billion VND (sixty thousand billion VND) of the accumulated source for salary reform of the central budget and 50,619 billion VND (fifty thousand, six hundred and nineteen billion VND) of the remaining source for salary reform of the local budget by the end of 2024 will be transferred to the 2025 budget arrangement of the Ministries, central and local agencies to implement the basic salary level of 2.34 million VND/month.

Total state budget expenditure was VND 2,548,958 billion (two million, five hundred forty-eight thousand, nine hundred fifty-eight billion). The state budget deficit was VND 471,500 billion (four hundred seventy-one thousand, five hundred billion), equivalent to 3.8% of gross domestic product (GDP).

Minister of Natural Resources and Environment Do Duc Duy, authorized by the Prime Minister, presented the Draft Resolution on piloting the implementation of commercial housing projects through agreements on receiving land use rights or having land use rights.

Regarding state budget management in 2024: Supplement the central budget revenue estimate in 2024 with non-refundable aid capital of VND 21,284 million and supplement the regular expenditure estimate in 2024 with non-refundable aid capital of VND 21,284 million for ministries, central and local agencies.

Regarding the implementation of salary policy and some social policies, the Resolution clearly states that public sector salaries, pensions, social insurance benefits, monthly allowances, and preferential allowances for meritorious people will not be increased in 2025.

The summary report on the reception and explanation of the assessment of the implementation of the state budget in 2024, the state budget estimate in 2025 and the Draft Resolution on the state budget estimate in 2025 shows that many opinions suggest that the Government urgently direct specialized agencies to promptly develop a plan to amend the State Budget Law, promptly concretize Resolution No. 18-NQ/TW dated September 16, 2022 of the Party Central Committee, and have a mechanism to reasonably and effectively regulate revenue from land use fees and land rents between the Central and local levels.

Some opinions suggested that it is necessary to speed up the disbursement of public investment, especially for key national projects, as well as key local projects, and transfer funds from slow-moving projects to projects with high implementation and disbursement potential. There were concerns about the feasibility of the 95% disbursement plan as reported by the Government.

The National Assembly Standing Committee believes that the progress of disbursement of public investment capital in the first 9 months of 2024 of a number of ministries, branches and localities is still slow; the national average has only reached 47.3% of the estimate assigned by the National Assembly, down both in value and proportion compared to the same period; in which foreign capital only reached 24.33% of the plan, lower than the same period (28.37%).

Therefore, in the last months of the year, with the goal of disbursing 95% of the assigned budget, the National Assembly Standing Committee recommends that the Government needs to closely direct, resolutely, proactively find solutions to overcome, enhance the responsibility and initiative of ministries, branches and localities to speed up the disbursement of public investment, especially key national projects, as well as key local projects to ensure the completion of the set goals.

Chairman of the National Assembly's Economic Committee Vu Hong Thanh presented the Report on the review of the investment policy for the high-speed railway project on the North-South axis.

Many opinions agreed with the 2025 State Budget revenue estimate as proposed by the Government. Some opinions suggested considering and calculating the import-export balance revenue estimate and crude oil revenue at a higher level. Some opinions suggested allowing localities to use the remaining salary reform funds to make investments.

There are suggestions that it is necessary to enhance the responsibility of leaders in deciding on investment policies and projects, resolutely eliminate unnecessary, scattered, and ineffective projects, and focus on removing obstacles and shortcomings, speeding up progress, and ensuring the quality of a synchronous and modern strategic infrastructure system.

Incorporating the opinions of National Assembly deputies, the draft Resolution on the allocation of the 2025 Central budget has stipulated that the allocation of state budget investment capital must be concentrated, focused, and key, in compliance with the conditions and order of priority prescribed in the Law on Public Investment, the Resolution of the National Assembly, and the Resolution of the National Assembly Standing Committee; prioritizing the full payment of outstanding debts for basic construction according to the provisions of law; recovering all remaining advanced capital that must be recovered in the Medium-term Public Investment Plan for the period 2021-2025; allocating sufficient capital for projects that have been completed and handed over for use before 2025, counterpart capital for ODA projects and foreign preferential loans, state budget capital participating in PPP projects, investment preparation tasks, planning tasks, and transitional projects that must be completed in 2025; Allocate capital according to progress for important national projects, connecting projects, projects with significant inter-regional impacts to promote rapid and sustainable socio-economic development.

After allocating sufficient capital for the above tasks, the remaining capital will be allocated to newly started projects that have completed investment procedures. Tighten financial discipline, strictly handle violations and obstacles that slow down the progress of capital allocation and disbursement; individualize the responsibility of the head in case of slow disbursement, associated with the assessment of the level of completion of assigned tasks./.

According to VNA

Source: https://baobinhduong.vn/thong-qua-nghi-quyet-ve-du-toan-ngan-sach-nha-nuoc-nam-2025-a335407.html