Several important decisions were made regarding total GDP, the State budget, and salary raises for the upcoming year.
The National Assembly on Tuesday set a GDP target of 6.7% for 2016. 100% of NA deputies agreed with the decision. This GDP rate is considered reasonable, and based on a GDP growth of 6.5% in 2015. The plan is intended to accelerate production activities and achieve sustainable development.
On Wednesday’s working session, the National Assembly approved the budget plan for 2016. According to the new plan, state budget revenue for 2016 is expected to reach 45.3 billion USD, with expenditures to reach 56.8 billion USD. This will result in a budget deficit, expected to boost investment and infrastructure development for the nation. The excess expenditure is worth 4.95% of total GDP.
On the same day, the National Assembly also approved the decision to raise salaries for government employees and defence personnel.
The basic salary of these individuals will increase from 1,150,000 VND to 1,210,000 VND. Alongside the 140,000 VND raise, government employees with significant contributions and retirees with merit will receive an 8% raise. This move will cost the government 491 million USD.
