The savings of 10% of the local budget in 2023 to be redefined for wage reform in Vietnam?
- The savings of 10% of the local budget in 2023 to be redefined for wage reform in Vietnam?
- Entire revenue from the lottery in Vietnam to be invested in development in education - training, vocational training and the medical?
- How to build estimates of local budget overspending, borrowing and debt repayment in Vietnam?
The savings of 10% of the local budget in 2023 to be redefined for wage reform in Vietnam?
According to subsection 3, Section I of Directive 12/CT-TTg 2022 on the state budget estimate in 2023, issued by the Prime Minister
"3. Development of local budget estimates
Based on the local budget expenditure estimate in 2023, the percentage (%) of the revenue distribution between the central budget and the budget of each province and centrally run city applied for the period 2023-2025 and the additional amount In 2023, the National Assembly decides, the People's Committee of the province determines the percentage (%) of the revenue to be divided between the levels of local government and the amount of additional budget for the lower government submitting to the Provincial People's Council for a decision to apply from 2023.
In addition to strictly complying with the requirements at Points 1 and 2, Section I, Part B of this Directive, the formulation of local budget estimates at all levels in 2023 must also ensure the following requirements:
a) Estimates of local budget revenues:
Presidents of People's Committees of provinces and cities direct the finance, tax and customs agencies to coordinate with relevant agencies, based on the targets of the collection ordinance of the National Assembly and the Prime Minister to assign and evaluate evaluate the impacts of objective and subjective factors on production, business, and budget revenues to direct and administer the implementation of the 2022 budget collection task in the locality.
Strictly abide by the preparation of budget revenue estimates and take responsibility before the Prime Minister for the formulation of budget revenue estimates with positive and realistic requirements arising, fully synthesizing new local budget revenues. Analyze and evaluate specific impacts affecting the state budget revenue estimate in 2023 by each locality, each revenue field, each revenue, and tax, in which focus is on assessing the impact of objective factors on the world and regional political economy, price fluctuations, markets, supply management, goods circulation, the recovery of the local economy...
b) Local budget expenditure estimates:
Based on local budget expenditure estimates decided by the National Assembly; on the basis of the goals of the five-year socio-economic development plan 2021-2025 and the local socio-economic development goals and tasks in 2023; regimes and policies promulgated by the central and local governments according to their competence; tasks under Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the Socio-economic Development and Recovery Program; localities to elaborate local budget expenditure estimates, detailing each spending field according to the provisions of the 2015 Law on State Budget; local budgets redefine the savings of 10% of recurrent expenditures in 2023 for the implementation of wage reform according to regulations. For development investment expenditures, sufficient capital must be allocated according to the committed schedule for tasks and projects under the Socio-economic Development and Restoration Program and expressway projects under decentralized management."
The savings of 10% of the local budget in 2023 to be redefined for wage reform in Vietnam? (Image from the internet)
Entire revenue from the lottery in Vietnam to be invested in development in education - training, vocational training and the medical?
According to subsection 3, Section I of Directive 12/CT-TTg 2022 on the state budget estimate in 2023, issued by the Prime Minister
"3. Development of local budget estimates
...
c) For lottery revenue:
Localities closely estimate lottery revenue (including revenue distributed from computerized lottery activities) and continue to use all revenue from lottery for development investment. that priority is given to investment in education - training and vocational training (including investment in procurement of teaching equipment for the program of renovating general education textbooks) and the health sector; the rest, priority shall be given to the implementation of investment projects and projects on natural disaster prevention, combat against climate change, new rural areas and other important investment tasks subject to investment of the local budget. "
How to build estimates of local budget overspending, borrowing and debt repayment in Vietnam?
According to subsection 3, Section I of Directive 12/CT-TTg 2022 on the state budget estimate in 2023, issued by the Prime Minister
"3. Development of local budget estimates
...
d) For overspending, borrowing and debt repayment of the local budget:
Localities are only allowed to propose provincial-level budget deficits when meeting all regulations and conditions as prescribed by the Law on State Budget, Law on Public Debt Management and guiding documents. At the same time, carry out a full assessment of the impact of local budget debt, the need to raise capital for development investment and the medium-term debt repayment capacity of the local budget before proposing new loans.
For projects using ODA and concessional loans as the request of foreign donors, localities will proactively coordinate with relevant ministries and central agencies to complete procedures, sign and add to the medium-term plan as prescribed, in order to the basis for the arrangement of capital plans in the 2022 estimate; Estimated disbursing capacity of each loan in order to develop appropriate plans for borrowing and overspending of the local budget.
Localities actively arrange sources to fully repay their due debts (both principal and interest), especially loans from the Government's foreign loans for on-lending."
Thus, the Prime Minister directs the local budget to redefine the savings of 10% of recurrent expenditure in 2023 for wage reform according to regulations.
LawNet
