Resolution No. 73/2018/QH14 dated November 14, 2018 of the National Assembly on allocation of central budget funds in 2019

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Resolution No. 73/2018/QH14 dated November 14, 2018 of the National Assembly on allocation of central budget funds in 2019
Issuing body: National Assembly of the Socialist Republic of Vietnam Effective date:
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Official number: 73/2018/QH14 Signer: Nguyen Thi Kim Ngan
Type: Resolution Expiry date: Updating
Issuing date: 14/11/2018 Effect status:
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Fields: Finance - Banking

SUMMARY

In 2019, the central budget funds spend over VND 1,000,000 billion

This content is prescribed at the Resolution No. 73/2018/QH14 on allocation of central budget funds in 2019 which was adopted on November 14, 2018, by the National Assembly at its 6th session.

To be specific:

- The total central budget expenditure is VND 1,019,599 billion, in which VND 321,354 billion is estimated for balancing budget funds and as target transfers to local budgets;

- The total central budget revenue is VND 810,099 billion. The total local budget revenue is VND 601,201 billion.

The National Assembly directs localities to strive to raise revenues, reduce expenditures, and use the remaining amounts from local budgets for salary reform to implement social security regimes and policies issued by the Party Central Committee to reduce support from the central budget.

In the period to 2020, to reserve 65% and 35% of road tolls on cars from the central budget and local budgets, respectively, for road management and maintenance.

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Effect status: Known

THE NATIONAL ASSEMBLY

Resolution No. 73/2018/QH14 of the National Assembly on allocation of central budget funds in 2019[1]

 

THE NATIONAL ASSEMBLY

Pursuant to the Constitution of the Socialist Republic of Vietnam;

Pursuant to Law No. 83/2015/QH13 on the State Budget;

Pursuant to the National Assembly’s Resolution No. 70/2018/QH14 of November 9, 2018, on the 2019 state budget estimates;

On the basis of considering the Government’s Reports No. 40/BC-CP and No. 41/BC-CP of October 17, 2018; the Committee on Financial and Budgetary Affairs’ Verification Report No. 1277/BC-UBTCNS14 of October 20, 2018; the National Assembly Standing Committee’s Explanatory Report No. 352/BC-UBTVQH14 of November 13, 2018; and opinions of National Assembly deputies,

 

RESOLVES:

Article 1.Total central budget revenue and expenditure of 2019

1. The total central budget revenue isVND 810,099 billion(eight hundred and ten thousand, and ninety-nine billion Vietnam dong). The total local budget revenue isVND 601,201 billion(six hundred and one thousand, and two hundred and one billion Vietnam dong).

2. The total central budget expenditure isVND 1,019,599 billion(one million, nineteen thousand, and five hundred and ninety-nine billion Vietnam dong) in whichVND 321,354 billion(three hundred and twenty-one thousand, and three hundred and fifty-four billion Vietnam dong) is estimated for balancing budget funds and as target transfers to local budgets.

Article 2.Allocation of central budget funds in 2019

1. To allocate central budget funds in 2019 for every field and to every ministry and central agency as specified in Appendices 1, 2 and 3 to this Resolution.

2. To allocate the additional amount for balancing budget funds, target transfers, and central budget funds under national target programs and target programs to local budgets as specified in Appendices 4, 5, 6 and 7 to this Resolution.

3. The local budget deficit and levels of borrowings to offset budget deficits and borrowings for payment of loan principals by each locality are specified in Appendix 8 to this Resolution.

Article 3.To assignthe Government

1. To assign state budget collection and spending tasks and levels of central budget funds allocated to each ministry, central agency and province and centrally run city according to regulations, and notify such in writing to each delegation of National Assembly deputies of provinces and centrally run cities.

2. To allocate funds to efficient programs and projects, adopt plans on reduction of funds for delayed projects and addition of funds to projects with large completed volumes of jobs, and report such to a competent authority for decision in accordance with law, ensuring no capital redundancy. To focus on accelerating the progress of, and completing, national important programs and projects and ongoing urgent projects.

3. Based on the National Assembly’s Resolution No. 71/2018/QH14 of November 12, 2018, on adjustment of the 2016-2020 medium-term public investment plan, to allocate, and assign plans on, foreign funds from the central budget to projects of each ministry, central agency and province and centrally run city in accordance with law.

4. To allocate specific development investment funds of target programs and the remaining non-business funds of the national target program on building a new countryside, target program on climate change response and green growth, and target program to thoroughly handle seriously polluting public establishments within the time limit prescribed by the Law on the State Budget.

5. During 2018-2020, to reserve 65% and 35% of road tolls on cars from the central budget and local budgets, respectively, for road management and maintenance.

6. To regulate the funds for government bond issuance within the 2019 central budget estimates for payment of loan interests as decided by the National Assembly.

7. To direct provincial-level People’s Committees to propose provincial-level People’s Councils to decide on state budget revenue estimates in localities, local budget expenditure estimates, local budget deficit, and total local budget borrowings (including borrowings to offset budget deficit and borrowings for payment of loan principals), and decide to allocate state budget estimates according to their competence in accordance with law.

8. To direct ministries, central agencies and People’s Committees at all levels to decide to assign before December 31, 2018, the 2019 state budget revenue and expenditure estimates in accordance with the National Assembly’s resolutions to agencies and units performing state budget collection and spending tasks; to publicize and report on budget estimate allocation and assignment results in accordance with the Law on the State Budget.

9. To direct and guide ministries, central agencies, and provinces and centrally run cities to allocate development investment funds to prioritize the payment of outstanding debts for capital construction from the central budget; to allocate funds to recover the remaining fund amounts advanced from the central budget during 2016-2020; to resolutely reduce the improperly arranged amounts; to strictly handle cases in which outstanding debts for capital construction are generated; to strictly comply with the list of medium-term public investment plans already decided by a competent authority.

10. To direct localities to arrange expenditures to ensure funds for performing important tasks and tasks arising in 2019; to allocate sufficient funds for implementation of the issued policies; to strive to raise revenues, reduce expenditures, and use the remaining amounts from local budgets for salary reform (after reserving sufficient funds for local salary reform) to implement social security regimes and policies issued by central agencies to reduce support from the central budget for implementation of these regimes and policies.

For regimes, policies and specific spending tasks decided by provincial-level People’s Councils under Article 30 of the Law on the State Budget, no support from the central budget will be provided but it is required to adopt solutions to ensure financial resources within the annually assigned local budget expenditure estimates and other financial resources for implementation.

Article 4.Supervision and audit of the allocation of central budget funds

1. The Standing Committee, the Committee on Financial and Budgetary Affairs, the Ethnic Council and other committees of the National Assembly, delegations of National Assembly deputies, National Assembly deputies, and the Vietnam Fatherland Front shall, within the ambit of their responsibilities and powers prescribed by law, oversee the allocation of the 2019 central budget funds of ministries, sectors, other central agencies, and People’s Councils and People’s Committees at all levels.

2. The State Audit Office of Vietnam shall, within the ambit of its tasks and powers, audit the allocation of central budget funds in accordance with law.

This Resolution was adopted on November 14, 2018, by the XIVthNational Assembly of the Socialist Republic of Vietnam at its 6thsession.-

Chairwoman of the National Assembly
NGUYEN THI KIM NGAN

*The appendices to this Resolution are not translated.

 



[1]Công Báo Nos 1127-1128 (20/12/2018)

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Finance - Banking , Organizational structure

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