National Assembly deputies approved a resolution on the State budget estimate for 2016 and gave their opinions on several draft laws during a plenary session in Hanoi on November 11th.

The resolution projects the budget revenue at VND 1,019.2 trillion (USD 45.86 billion), while total spending will be VND 1,273.2 trillion (USD 57.3 billion), resulting in a deficit of VND 254 trillion, equivalent to 4.95 percent of GDP.

NA deputies approving the State budget estimate for 2016. Photo: vovgiaothong.vn

Next year, VND 60 trillion (USD 2.7 billion) worth of Government bonds will be issued to invest in projects using Government bond capital decided by the legislature.

The debate on the draft Vietnam Maritime Code (revised) focused on the right to inland transportation and other issues regarding maritime safety, sea ports, vessels and fees and prices of maritime services.

During the afternoon session, the deputies looked into the draft Law on Access to Information and the draft Law on Fees and Charges.

The list of fees and charges, principles to decide levels of fees and charges, fee exemption and reduction and prohibited deeds were among the lawmakers’ most concerns.

Source: VNA