After the Lunar New Year (Tet) holiday, ministries, sectors, and localities have focused on accelerating the investment projects funded by the State budget.

The state budget revenue topped 1.8 quadrillion VND (71 billion USD) in the first 11 months of this year, equivalent to 106.3% of this year's target and up 16.1% from the same period in 2023, the Ministry of Finance reported on December 4.

The agenda of the 4th working week of the 15th National Assembly (NA)’s 8th session from November 11-13 will focus on many important issues, with the highlight being a question-and-answer (Q&A) session taking place on November 1 and 12.

More than 9.66 trillion VND (308.46 million USD) from the central budget has been allocated to localities this year to implement the 2021-2025 national target programme on new-style rural area development.

The 15th National Assembly continued the ongoing 8th session in Hanoi on October 22, the second working day, under the chair of NA Chairman Tran Thanh Man.

The Ministry of Transport is keeping a close watch on monthly public investment disbursement progress and transferring capital from projects with slow disbursement to more capable ones.

To boost public investment disbursement in 2024, ministries, sectors, and localities need to foresee problems that may occur during the implementation of projects to take timely solutions, said an official of the Ministry of Finance (MoF).

In 2023, the central budget will continue to be allocated for the Ministry of Health to purchase vaccines for the expanded programme on immunisation for all localities nationwide, according to Resolution No.98 recently issued by the Government.

Deputy Prime Minister Tran Luu Quang has signed off on a decision for assistance in house building and land reclamation for residents in ethnic minority and mountainous areas.

The State budget overspending in 2020 stood at over 216.4 trillion VND (9.3 billion USD), equivalent to 3.44 percent of GDP, statistics showed.

As the COVID-19 pandemic is predicted to linger and affect the State budget revenue as well as spending on the pandemic combat, it is necessary to flexibly combine fiscal and monetary policies to keep macro-economic stability, said Minister of Finance Ho Duc Phoc.

The Ministry of Planning and Investment estimates the total State budget to reach 516.7 trillion VND (22.6 billion USD) in 2022, up 8.3 percent against 2021’s plan.

State budget collection was estimated to reach 98.6 trillion VND in May, pushing total revenue in the first five months of 2021 to 667.9 trillion VND (nearly 29 billion USD), equivalent to 49.7 percent of the yearly estimate, up 15.2 percent year on year, the Ministry of Finance has reported.

Vietnam plans to outlay 2.87 quadrillion VND (124.5 billion USD) on public investment in the 2021-2025 period, up 120 trillion VND compared to the previous estimate.

Prime Minister Nguyen Xuan Phuc has decided to allocate 89.11 billion VND (3.86 million USD) sourced from the central budget reserves for five central provinces hit hard by natural disasters in October to help address housing damage.

The disbursement of capital sourced from the central budget for public investment purposes had reached 29 percent of the annual plan as of September 30, according to Truong Hung Long, Director of the Department of Debt Management and External Finance at the Ministry of Finance.

State budget collection in the first nine months of this year reached 975.3 trillion VND (42.4 billion USD), equivalent to 64.5 percent of the estimate and representing a drop of 11.5 percent year-on-year, according to the Ministry of Finance.

Legislators gave opinions on June 12 on the draft socio-economic development programme for ethnic minority-inhabited and mountainous areas in the 2021-2030 period, identifying the need to initially allocate funding to priorities.

The National Assembly Standing Committee (NASC) has requested the Government, ministries and sectors to learn from experience in budget estimating and allocation planning which have become problematic recently.

The National Assembly Standing Committee debated the allocation of the central budget to implement the national target programme on building new-style rural areas in the Mekong Delta region between 2016-2020, at its 7th session in Hanoi on February 21.