Approval of resolution on budget allocation for 2016

The Resolution determined that the total revenue of the Central Budget in 2016 was 596,882 billion VND, and the local budget revenue was 417,618 billion VND.

This morning (November 14), the National Assembly voted to approve the entire Resolution on the allocation of the Central Budget for 2016, with 391/392 delegates in favor (reaching a rate of 79.15%).

The Resolution on Central Budget Allocation in 2016 clearly states that the total revenue of the Central Budget is 596,882 billion VND. The total revenue of the local budget is 417,618 billion VND. The total expenditure of the Central Budget is 850,882 billion VND, of which 211,221 billion VND is estimated to be supplemented for balancing and targeted supplementation to the local budget.

The National Assembly assigns the tasks of State budget collection and expenditure and the allocation of the Central Budget to each Ministry, branch, other agency at the Central level and each province and centrally-run city in accordance with the provisions of the State Budget Law, the Resolution of the National Assembly and notifies in writing each National Assembly delegation of the province and centrally-run city.

The Government allocates central budget capital to support the implementation of national target programs for ministries, branches and localities in 2016. After the Government issues specific allocation norms, it will adjust and rebalance the central budget capital support for each locality according to the 5-year medium-term investment plan for the period 2016-2020.

Percentage of delegates participating in voting to pass the Resolution on Central Budget allocation in 2016.

The Government directs the People's Committees of provinces and centrally run cities to submit to the People's Councils of the same level for decision on the State budget revenue estimates in the locality, the local budget expenditure estimates, and the decision on budget allocation according to their authority and in accordance with the provisions of law.

Ministries, branches, other agencies at the Central level and People's Committees at all levels shall decide to assign the 2016 State Budget revenue and expenditure estimates in accordance with the National Assembly's Resolution to each agency and unit with the task of collecting and spending the State Budget before December 31, 2015; publicly disclose and report the results of budget allocation and assignment in accordance with the provisions of the State Budget Law.

The Government directs and guides ministries, branches and other agencies at the central and local levels to allocate development investment capital with priority to focus on accelerating progress and completing key national programs, projects and works, and urgent works under unfinished investment; prioritize counterpart funds for ODA projects, public-private partnership (PPP) projects, handling outstanding debts in basic construction and recovering advanced capital. The remaining capital will be allocated for new projects. Strengthen inspection and supervision of all stages in the investment process.

The National Assembly Standing Committee, the Finance and Budget Committee, the Ethnic Council, other National Assembly Committees, National Assembly Delegations and National Assembly Deputies supervise the allocation of the 2016 Central Budget of ministries, branches, other agencies at the Central level and People's Councils and People's Committees at all levels within the scope of their responsibilities and powers as prescribed by law./.

According to the Communist Party of Vietnam