The basic salary will be increased to 1.49 million VND from July 1, 2019.
The National Assembly has passed a Resolution on the 2019 State Budget Estimate, assigning the Government to adjust the basic salary level from VND 1.39 million/month to VND 1.49 million/month from July 1, 2019.
The resolution, passed by the National Assembly on the afternoon of November 9th with 87.01% of the total number of delegates voting in favor, states: The 2019 state budget estimate includes total state revenue of 1,411,300 billion VND and total state expenditure of 1,633,300 billion VND.
The state budget deficit is 222,000 billion VND, equivalent to 3.6% of the gross domestic product (GDP), including: a central government budget deficit of 209,500 billion VND and a local government budget deficit of 12,500 billion VND.
The total amount borrowed by the state budget is 425,252 billion VND.
Regarding the use of remaining funds and the transfer of regular funds from the central budget in 2017, the National Assembly authorized the use of 10,380 billion VND from the remaining central budget in 2017 to address the following tasks: compensating for revenue shortfalls in the central budget balance by 5,894 billion VND; supporting the compensation for revenue shortfalls in the local budget balance by 2,815 billion VND; and supporting some localities lacking resources to implement salary policies by 1,671 billion VND. This amount will be accounted for in the 2017 state budget expenditures.
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| Results of the vote on the 2019 budget at the 6th Session. |
The National Assembly also tasked the Government with implementing several measures to manage the financial and budgetary tasks for 2019. These included emphasizing the strict management of fiscal policy, coordinating it synchronously and flexibly with monetary policy to support production and business development, further stabilize the macroeconomy, control inflation, and promote economic growth. It also stressed the need to tighten financial and budgetary discipline, ensuring compliance with the State budget estimates in accordance with the law. Furthermore, it called for strengthening inspections and audits, and promoting transparency in the use of the State budget.
In addition, it is necessary to strengthen management to prevent losses and waste of state budget funds, especially by strictly managing investment rates for basic construction projects. Technical norms for each industry and sector should be supplemented to help reduce investment costs. Regulations on land allocation and leasing through auctioning land use rights should be strictly implemented in accordance with land law.
"Adjusting the basic salary from VND 1.39 million/month to VND 1.49 million/month, adjusting pensions, social insurance benefits, monthly allowances (for those covered by the state budget) and preferential allowances for people with meritorious services to the revolution by the same percentage as the increase in the basic salary, effective from July 1, 2019" – the National Assembly Resolution clearly states../.
