Most ministries and sectors have accomplished allocated budgets

VCN- In the report sent to the National Assembly, the Ministry of Finance said by early March 2017, the ministries and central agencies have basically accomplished allocated budgets for units, investment projects and sent them to the Ministry of Finance for inspections according to regulations.
most ministries and sectors have accomplished allocated budgets Domestic revenues are relatively high thanks to land revenues and fees
most ministries and sectors have accomplished allocated budgets List of Provinces reaching a high state buget revenue collection.
most ministries and sectors have accomplished allocated budgets Investment in science and technology: it’s time not to “wait” for the budget
most ministries and sectors have accomplished allocated budgets
Completing the plan early will accelerate disbursement on schedule.

Assignment of basic construction investment reaches 99%

From the beginning of 2017, the Ministry of Finance has completed the guidelines on implementation of the State budget estimates for 2017 and announced the tasks of State budget collection and expenditure for 2017 of ministries, central agencies and localities to ensure time according to the Law.

On the basis of the tasks assigned for the State budget in 2017, ministries and central agencies have urgently implemented the allocation of State budget estimates for 2017 of investors and budget-using units. People's councils in localities have decided on socio-economic tasks and State budget estimates for 2017.

For ministries and central agencies, by early March 2017, the ministries and central agencies have basically accomplished allocated budgets for units and investment projects. But until 23rd March 2017, the Ministry of Education and Training deployed and allocated investment plans for 2017 and sent them to the Ministry of Finance to examine according to regulations.

The total regular budget has been inspected by the Ministry of Finance to allocate about 96% of the estimated budget. The remaining budget estimates are mainly allocated to the prevention of epidemics, funding for scientific research, projects, tasks awaiting for approval of competent authorities. In the case of lacking dossiers and explanations on the allocation basis, the Ministry of Finance has requested the additional inspections according to regulations.

For basic construction investment, central agencies have allocated capital estimates for project investors at the rate of about 99% assigned by the Prime Minister.

According to the Ministry of Finance, the units have allocated regular budget estimates and investment capital, in line with the assigned regimes and budgets, using appropriate expenditure and resources to implement salary reform and rational arrangement for priority objectives under the regulations.

However, there are still some cases where capital is allocated not in line with the regulations and through inspection, the Ministry of Finance has a written request for readjustment. For cases of delayed allocation, the Ministry of Finance has urged to allocate cost estimates according to regulations.

For Government bonds in 2017, in accordance with Resolution No. 27/2016 / QH14 on the State Budget estimate for 2017, the National Assembly decided on the total amount of 50,000 billion vnd. Till now, the allocation of estimates has been nearly 5.2 trillion vnd, equivalent to 10.4% of the estimate of the National Assembly.

40 out of 63 localities decide on expenditure estimates higher than the assigned budget

63 out of 63 People's Councils of provinces and centrally-run cities have decided on their socio-economic tasks and State budget estimates for 2017. Till now, the total State budget revenue collection (excluding budget management) has reached 1,205 trillion vnd, an increase of 1.1% (12.7 trillion vnd) compared to the Prime Minister's estimates.

In particular, domestic revenues increased by 1.4% (11.7 trillion vnd), with 39 out of 63 localities deciding on collection estimates higher than the assigned budget; revenues from import-export activities increased by 0.3% (985 billion vnd), with 9 out of 59 localities deciding on collection estimates higher than the assigned budget, and 50 out of 59 localities deciding on estimated budgets; and revenues are mainly from crude oil.

The total local budget expenditures (excluding expenditures from the central budget) have been 702 trillion vnd, an increase of 2.8% (19.3 trillion vnd) compared to the budget assigned by the Prime Minister.

In particular, 40 out of 63 localities decided on expenditure estimates higher than the assigned budget (including expenditures from the source of budget revenue, transferring source and balance of previous year and increasing budget deficit) 17 out of 63 localities decided on expenditure estimates equal to assigned estimates; 6 localities decided on expenditure estimates lower than assigned budgets due to allocating resources for balance expenses. The level of budget deficit is lower than the estimate assigned by the Prime Minister.

most ministries and sectors have accomplished allocated budgets Budget revenues of 2015 exceed estimates

VCN- On the afternoon of 22nd May 2017 - the first day of the third session, the ...

For localities with revenues and expenditures not consistent with the orientations of the central Government (spending on education-training, science and technology is lower than the assigned budget; and the total amount of loans from local budgets is higher than the assigned budget), the Ministry of Finance has requested the provincial People's Committee to report to the People's Council for adjustment in accordance with the provisions of the Budget Law or in the course of managing the budget in 2017, the State will strive to increase revenues, save expenditures to supplement the budget, lower than the assigned budget; implement over-spending and borrowing from the State budget without exceeding the budget estimates approved by the Prime Minister.

By Minh Anh/ Hoang Anh

Related News

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Lang Son Customs finds it difficult to collect and handle tax arrears

Lang Son Customs finds it difficult to collect and handle tax arrears

VCN - As of December 16, 2024, the total overdue debt for processed customs declarations at Lang Son Customs Department was more than VND180.7 billion, of which the unit conducted a charge-off debt of VND 93.9 billion. Although Lang Son Customs Department applied many measures, collection and handling of tax arrears is still a problem.
Hai Phong Customs sets new record in revenue of VND70,000 billion

Hai Phong Customs sets new record in revenue of VND70,000 billion

VCN – Hai Phong Customs Department set a new record in budget collection in 2024 with more than VND70,000 billion

Latest News

Personal income tax proposed for interest on some bank savings accounts

Personal income tax proposed for interest on some bank savings accounts

Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth

Banks set for aggressive bond issuance in 2025 to fuel growth

With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025

Central bank cuts interest rate on bills for first time in 2025

According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units with large asset scale and large number of inventory items, complex assets, and slow implementation progress.

More News

The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

VCN - The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more; the average growth rate of the consumer price index (CPI) to about 4.5-5%.
Fiscal, monetary policies support demand stimulation, price stabilisation

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.
Vietnam secures VND 157 billion from state enterprise divestment in 2024

Vietnam secures VND 157 billion from state enterprise divestment in 2024

VCN - The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion
Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.
VN’s credit conditions in 2025 expected to be stable

VN’s credit conditions in 2025 expected to be stable

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN- On February 3, the first working day after the Tet holiday, Minister of Finance Nguyen Van Thang and the delegation visited and worked with the General Department of Vietnam Customs (GDVC).
Read More

Your care

Latest Most read
Personal income tax proposed for interest on some bank savings accounts

Personal income tax proposed for interest on some bank savings accounts

Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth

Banks set for aggressive bond issuance in 2025 to fuel growth

With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025

Central bank cuts interest rate on bills for first time in 2025

According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units
The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more
Mobile Version