Resolution No. 29/2016/QH14 dated November 14, 2016 of the National Assembly on allocation of central government budget for 2017

THE NATIONAL ASSEMBLY

Resolution No. 29/2016/QH14 dated November 14, 2016 of the National Assembly on allocation of central government budget for 2017

Pursuant to the Constitution of the Socialist Republic of Vietnam;

Pursuant to the Law No. 83/2015/QH13 on State Budget and Resolution No.27/2016/QH14 dated November 11, 2016 on 2017’s estimation of the State budget by the National Assembly;

In consideration of the Government’s  Report No.466/BC-CP dated October 19, 2016, Report No.470/BC-CP dated October 19, 2016, Report No.522/CP-KTTH Dated November 09, 2016, Verification Report No.183/BC-UBTCNS14 dated October 19, 2016 by the Finance and Budget Committee; Report and presentation No.56/BC-UBTVQH14 dated November 11, 2016 by the Standing committee of the National Assembly of the Socialist Republic of Vietnam and opinions of congress persons;

DECIDES:

Article 1. Total government revenue and spending for 2017

1. The total government revenue is expected to reach VND729,730 billion(seven hundred twenty nine thousand seven hundred and thirty billion dong). The total local revenue is expected to reach VND482,450 billion(four hundred eighty two thousand four hundred and fifty billion dong).

2. The total government expenditure is expected to reach VND902,030 billion (nine hundred two thousand and thirty billion dong), including VND254,630 billionexpected to be allocated to the local budget serving specific purposes.

Article 2. Allocation of central government budget for 2017

1. The central government budget 2017 shall be allocated for specific sectors and regulatory authorities as stipulated in Appendices 1, 2 and 6 attached hereto.

2. The ratio of distribution of revenues between the Central government budget and local budgets of provinces (hereinafter referred to as “ ratio of revenue distribution“), additional funding and additional funding for specific purposes located to the central government budget from local  budgets are presented in the Appendices 3, 4 and 6 attached hereto.

The ratio of revenue distribution of the year 2017 shall be maintained from 2017 to 2020. In case the earnings from new projects coming into operation in the above-mentioned period considerably increases the local budget, the Government shall request the National Assembly to review and make decisions in accordance with point d clause 7 Article 9 of the Law on the State budget.

3. The local budget surplus, amount of loans for making up for the budget deficits and paying debt principal (if any) are presented in Appendices 5 attached hereto.

Article 3. Responsibilities of the Government

The Government shall:

1. Assign central and provincial authorities to take charge of the revenue,  spending and allocation of the central government budget as stipulated in the  law on the State budget and National Assembly’ Resolution , and  send written notifications to the congressional delegations of provinces.

2. Direct the People s Committees of provinces to request the People’s Council at the same level to estimate the state budget revenue in the province, local budget expenditure, local budget deficits and total amount of loans for making up for local budget deficits and for repaying the principal on debts, and decide to make budget allocation according to the authority.

3. Direct central authorities and People’s Committees at all level to send the estimates of revenue and spending for 2017 to   authorities in charge of the budgetary revenue and spending before December 31, 2016 as stipulated in the National Assembly’s Resolution; publicly report on allocation and assignment of estimation of the budgetary revenue and spending under the Law on the State Budget.

4. Instruct and direct other central and local authorities to allocate development capital to accelerate the progress of nationally significant projects and programs, and essential projects in progress; grant housing subsidies to households having contribution to the national Revolution; give priority to grant of counterpart fund to ODA and PPP projects, and settle accrued expenses for capital construction. Intensify phase inspection of investment. Grant funding or mobilize other sources of finance to support key local governments whose revenue is adjusted decreased during the period 2017-2020, facilitate those local governments to uphold its role as an economic driving force of the country.

5. Direct local governments to control their spending to reserve budget for implementation of important duties and new ones in 2017; increase revenues and tight the belt to make greater contribution to implementation of the social security policy issued by the State.

Prepare solutions to keep within the annual estimated local spending budget and to ensure other sources of finance for implementation of particular policies and spending purposes decided by the People’s Council as stipulated in Article 30 of the Law on State Budget.

Article 4 Supervision of allocation of central government budget

The Standing committee of the National Assembly of the Socialist Republic of Vietnam, the Finance and Budget Committee, Nationalities Councils, other Committees of the National Assembly, Delegates of the National Assembly and congress persons shall, according to their responsibilities and power, shall supervise the allocation of central government budget 2017 by other central regulatory authorities, People’s Council and People’s Committees at all levels.

This Resolution is ratified by the 14^thNational Assembly of the Socialist Republic of Vietnam at the second meeting session on November 14, 2016.

The Chairwoman of the National Assembly

Nguyen Thi Kim Ngan

* All Appendices are not translated herein.