Regulations on making the financial plan on the State budget

Regulations on making 5-year financial plan and 3-year financial plan on the State budget. Picture: Internet.

Making 3-year financial plan.

As the regulations, the five-year financial plan is the financial plan for the implementation of the targets and tasks of the national and local socio-economic development plans in 5 years; setting the basic goals and targets of finance - state budget over the five-year plan; playing a decisive role in the three-year state budget and annual state budget estimates.

The Ministry of Finance chairs and collaborates with the Ministry of Planning and Investment as well as the related ministries and central agencies in the national five-year financial plan-making and report to the Government for submission to the National Assembly for consideration and decision.

Provincial People's Committees direct the Departments of Finance to chair, and cooperate with the Departments of Planning and Investment, and other related agencies in localities to make the provincial 5-year financial plans, report to the provincial people's councils for consideration and decision.

The Decree requires the five-year financial plan-making to be consistent with the targets, tasks and solutions set by the National Strategy for Socio-Economic Development; Financial strategies, public debt, reform of the tax system; Objectives, targets and orientations for socio-economic development in 5-year plans of the whole country and locality; be in accordance with the socio-economic situation, the ability to balance the state budget revenues, mobilization and repayment and national financial safety requirements within the five-year plan; be in accordance with the principles of balancing, managing, decentralizing revenue sources, spending on the state budget, principles of public debt safety management; prioritize the allocation of the state budget funds for the implementation of major policies of the Party and the State in each specific period.

Making the 3-year financial-state budget plan.

The 3-year financial plan on the State budget is the financial plan on the State budget is made annually under the rolling mode for 3 years, from the year of the state budget estimates and the next two years.

The 3-year financial plan on the State budgetfor the implementation of the 5-year financial plan, presenting major contents of the state budget balance sheet and budget ceiling for ministries, agencies, units and localities for 3 years, within the current economic-social and financial- state budget situation and updating the prediction over 3 years, which will serve as a basis for the making, considering, and deciding on the annual state budget estimates.

The Ministry of Finance chairs and collaborates with the Ministry of Planning and Investment to synthesize the 3-year financial plans to report to the Government for submission to the National Assembly for discussion and consideration, approval to the State budget estimates and the annual central budget allocation.

The Departments of Finance chairs, and cooperates with the Departments of the Planning and Investment to synthesize the provincial 3-year financial plans to report to the provincial-level People's Committees and People's Councils at the same level for discussion, consideration, and approval to the state budget estimates and the annual local beget allocation.

Ministries, central agencies and other buget agencies, units at provincial level 1 make the 3-year financial plan under their management and submit to the financial, planning and investment agencies at the same level to synthesize.

The Decree stipulates that The 3-year financial plan on the State budgetmust be in accordance with the actual implementation of the objectives, targets, and orientations of the annual 5-year and socio-economic development; predict over 3 years; fully reflect state budget revenues and other revenues as prescribed by law; budget expenditures are based on the sectoral structure and large expenditures, within the ceiling of budget expenditures informed by the competent agencies; ensure the principle of balancing, managing, decentralizing the budget and managing public debt in accordance with the State Budget Law and the Law on Public Debt Management.