NA adopts Resolution on state budget estimates for 2025

ABO/NDO- With 428 out of 430 legislators present at the sitting voting in favour, the National Assembly (NA) approved a Resolution on state budget estimates for 2025 at its ongoing 8th session in Hanoi on November 13 morning.

Accordingly, the state budget revenue is over 1.966 quadrillion VND, while the total state budget expenditure is over 2.54 quadrillion VND. The budget deficit is 471.5 trillion VND, equivalent to 3.8% of the country's Gross Domestic Product (GDP).

A report on the explanation, acquirement, and assessment of the allocation of the state budget in 2024, the state budget estimates for 2025, and the draft Resolution on the state budget estimates for 2025, highlights several recommendations for the Government to promptly direct relevant specialised agencies to develop a plan for amending the Law on State Budget; quickly implement Resolution No. 18-NQ/TW dated September 16, 2022, by the Party Central Committee; outline a reasonable and effective mechanism for the allocation of revenues from land use fees and land rentals at the central and local levels.

With 428 out of 430 legislators present at the sitting voting in favour, the National Assembly (NA) approves a Resolution on state budget estimates for 2025. (Photo: VNA).

Some opinions suggested that the pace of public investment disbursement must be accelerated, especially for key national projects as well as important local projects. Lawmakers recommended to re-allocate funds from projects with slow implementation to those that are potential for implementation and disbursement.

The NA Standing Committee requested the Government to provide strict and decisive leadership, with solutions to overcome difficulties; increase responsibility and encourage proactivity from ministries, sectors, and localities to speed up the disbursement of public investment, aiming to achieve the target of disbursing 95% of the allocated budget.

Incorporating opinions of NA deputies, the draft Resolution on the allocation of central budget in 2025 stipulates that the allocation of state budget investment capital must ensure a concentrated and prioritised approach, in compliance with the conditions and priority order set out in the Law on Public Investment, resolutions of the NA and the NA Standing Committee.

(Source: NDO)