NA passes resolution on central budget allocation for 2018

08:31 | 15/11/2017 Events

The 14th National Assembly (NA) on November 14 approved a resolution on the central budget allocation in 2018 with 88.39 percent of the deputies voting yes.

NA passes resolution on central budget allocation for 2018 - Photo: VNA

The resolution targets over VND 753.404 trillion (US$ 33.17 billion) collected for the central budget and VND 565.796 trillion (US$ 24.91 billion) collected for local budget in 2018.

Meanwhile, central budget spending is capped at VND 948.404 trillion (US$ 41.76 billion) next year.

The parliament tasked the Government with collecting for and spending of the state budget, which consists of central and local budget, and allocating the central budget to ministries, central agencies, provinces, and centrally run cities in accordance with law.

The Government was ordered to promptly approve target programmes to allocate capital for the programmes to relevant ministries, sectors and localities in a timely manner. It must also reduce funding for sluggish projects while step up the allocation of capital for projects with good progress.

In the resolution, the NA also asked the Cabinet to accelerate projects of national importance and the construction of urgent facilities.

The vote on the central budget allocation resolution was part of the parliament’s fourth session that is taking place in Hanoi.