NA approves resolution on state budget allocation plan for 2024

NA deputies press bottons to vote the resolution. (Photo: VNA)

The resolution won approval from 444 NA deputies, accounting for 89.88% of legislators voting at the sitting, part of the ongoing sixth session of the 15th NA.

According to the resolution, next year’s central state budget collection is set at nearly 852.7 trillion VND (35.05 billion USD) while local budget collection over 848.3 trillion VND.

The central state budget spending for 2024 is estimated at 1.22 quadrillion VND including nearly 426.3 trillion VND to balance the budget and additionally allocate to local budgets.

The NA asked the Government to assign ministries, central agencies and centrally-run localities to make plans for budget collection, spending and allocation following the Law on State Budget, and NA resolutions.

NA approves resolution on state budget allocation plan for 2024 (Photo: VNA)

The Government was also urged to direct and instruct ministries, agencies and localities in allocating the state budget concentratedly, effectively and lawfully.

The ministries, agencies and localities are required to arrange sufficient capital for public investment projects that are expected to become operational before 2024, together with reciprocal capital in ODA projects and those using preferential foreign loans, State capital ratio at public-private partnership projects.

They must also arrange capital for key national projects or inter-regional projects which hold significance in boosting socio-economic development.

Investment for new projects will be considered and allocated after the prioritised projects get enough funding./.