The National Assembly (NA) has adopted State budget estimates for 2011 by an 80.53 percent vote, with VND595 trillion in total revenues, VND725.6 trillion in total spending, and VND120.6 trillion in overspending.

On November 11, NA deputies heard Director of the National Assembly’s Committee for Finance and Budget, Phung Quoc Hien, presenting a report on the draft resolution on State budget estimates for 2011. The deputies agreed upon solutions to properly implement next year’s estimates, fiscal policies and the State budget’s spending.

They also consented to a plan to issue government bonds worth VND 45 trillion to invest in projects decided upon by the NA Standing Committee.

The resolution on the 2011 State budget estimates underlined the need to strictly control the capital mobilisation and use, including domestic and foreign loans to State-owned enterprises, particularly economic groups and State corporations to ensure the right and effective use of all capital resources.

It is essential to define the responsibility of leaders of agencies, organisations and units for the use of budget, property and other capital resources from the State, says the resolution.

15 key national programmes will be carried out in 2011 under the Government’s proposal. Therefore, the NA has asked the Government to build criteria and plans to allocate capital to ministries, sectors and localities for implementation. All these plans will be submitted to the NA Standing Committee before January 31, 2011.

The same day, NA deputies gave their opinions on the draft law on amendments and supplements to some articles of the Securities Law.

Source: VOV/ Photo: dantri