Accordingly, the total State budget collection will stand at VND 1.319 quadrillion (USD 58.1 billion) while the State budget spending will be VND 1.523 quadrillion.
The State budget overspending is estimated at VND 204 trillion, or 3.7 percent of the gross domestic product. Of the figure, VND 195 trillion will be the central budget over-expenditure and the remaining will be local budget overspending.
The total loan of the State budget will amount to VND 363,284 billion.
The NA suggested that the government bond capital should be VND 14.033 trillion and non-State capital be revised up to the same amount. The total government bond issuance should not be more than VND 50 trillion.
The legislature requested the government direct the fiscal policy with caution and enhance inspection over the use of State capital, towards reducing delayed tax payment to below 5 percent of the total State revenue collection.
The government must seriously follow the Law on Thrift Practice and Wastefulness Prevention, the Law on Anti-Corruption and the Law on Public Asset Management and Use.
It was also required to revise up monthly basic salary from VND 1.3 million to VND 1.39 million, and adjust monthly allowances, pension and preferential subsidies starting from July 1, 2018.
At the same time, the government must direct agencies and localities to arrange administrative units in efficient operations by streamlining personnel on State payroll.
Resolution No.25/2016/QH14 on the national fiscal plan for 2016-2020 must be closely followed.
Source: VNA