Seeking feedback on the draft Law on State Budget (amended)

(Baonghean.vn) -Continuing the program of providing feedback on lawmaking, on the afternoon of March 26th, Mr. Pham Van Tan – Provincial Party Committee member and Head of the Provincial National Assembly Delegation – chaired a meeting to gather feedback on the draft revised Law on State Budget.

Scenes from the consultation session on the draft revised State Budget Law.

The State Budget Law was first passed by the National Assembly in 2002. However, its implementation has revealed several new issues and shortcomings. Therefore, in 2014, the Standing Committee of the National Assembly drafted an amendment to adjust and supplement the law, and submitted it for the National Assembly's consideration. This revised draft of the State Budget Law comprises 76 articles, including 5 general provisions and 12 detailed provisions. In their comments on the revised State Budget Law, representatives from Nghe An province requested clarification on how provinces that have not yet balanced their revenue and expenditure can utilize the excess revenue. They also raised concerns about the decentralization of lower-level budgets. Many expenditures, especially large ones under targeted programs, are only added mid-year, without a plan from the beginning. This makes it difficult for the Provincial People's Council's Budget Committee to assess the source of funds, often leading to the issuance of bonds, which can easily result in budget deficits and increased public debt.

A representative from the Provincial People's Council's Budget Committee delivered a speech.

A representative from the Department of Planning and Investment gave their comments and suggestions.

In addition to the above, representatives from the Department of Planning and Investment, the Tax Department, the State Treasury, etc., proposed unifying the budget plan and the financial budget plan with a medium-term timeframe in public investment, arguing that one plan should be 3 years and the other 5 years; clarifying the budget stabilization period; stating that the stipulated reserve level (1-3%) is too broad; adding grounds for issuing bonds; clarifying the concepts of increased revenue and excess revenue, and establishing a mechanism for their use; noting that some regulations included in the draft are unnecessary; setting benchmarks for verification; clarifying and clarifying the disbursements from the treasury for state budget purposes to reflect reality; and ensuring that the expenditure of the reserve fund in unexpected and urgent cases is subject to review and decision by the Standing Committee of the National Assembly or the Standing Committee of the local People's Council for stricter oversight.

Responding to the comments, Mr. Pham Van Tan – Head of the National Assembly Delegation of Nghe An province – emphasized that the State Budget Law is a very important law related to revenue, expenditure, and public investment; it has received attention from many ministries and sectors; delegates must be truly dedicated and closely involved in their professional activities for their comments and suggestions to be accurate; for Nghe An, a province that has not yet balanced its revenue and expenditure, the drafting of this Law is even more significant, both to ensure revenue and expenditure balance and to prevent an increase in public debt. The Head of the National Assembly Delegation instructed the Delegation Office to compile the comments and suggestions and finalize the draft for submission to the National Assembly at the next session.

Text and photos:Nguyen Hai