Legislators mull over State budget balance in 2016

The report on State budget balance was delivered by Minister of Finance Dinh Tien Dung who said synchronous solutions to restore the economy and efforts made by the entire political system have exerted impacts on the collection and spending of the State budget in 2016.

The State coffer was used suitably, prioritising agriculture, rural and mountainous and Central Highland areas, poverty reduction, social welfare and combats against natural disasters and diseases, he said.

Besides, the capital was also spent on national defence and security, macro-economic stability and national finance security protection, the minister added.

He stressed the close management of the State budget spending in line with the State Budget Law and the legislature’s resolution, adding that ministries and agencies at both central and grassroots levels employed various solutions to manage the State budget estimates effectively.

According to the report, the total State budget collection in 2016 hit over VND1.4 quadrillion (US$61.9 billion) while spending was more than VND1.57 quadrillion (US$69.2 billion).

The report on the State budget balance audit pointed out shortcomings in making and implementing budget estimates of some ministries, agencies and locality, along with bottlenecks in tax payment.

Of note, up to VND859 billion (US$37.7 million) from the State budget was used to pay for abundant personnel resources.

A report of the NA’s Finance-Budget Committee also revealed unsustainable budget collection, which, it said was mainly contributed by the natural resources and land sectors. There were 12 localities failed to complete their budget collection targets due to sluggish policy reform and overestimates.

Against the background, the committee suggested the NA implement solutions to deal with tax losses and debts, while identifying responsibility of ministries, agencies and localities for the above-said problems.

The same day, the legislators also discussed proposals of the draft Law on Cultivation and the draft Law on Amnesty (amended).