Adjustments to expenditure estimates of State Budget of Vietnam for 2024

Adjustments to expenditure estimates of State Budget of Vietnam for 2024 (Internet image) 

Adjustments to expenditure estimates of State Budget of Vietnam for 2024

According to Decision No. 1414/QD-BTC, the adjustment of the state budget expenditure estimates for 2024 for the budget estimate units under the Ministry of Finance is specified in the attached appendix as follows:

(1) Office of the Ministry of Finance (Hanoi, Vietnam) 

Adjustment of the state budget expenditure estimates for 2024 for the office of the Ministry of Finance (Hanoi, Vietnam) according to Appendix I issued with Decision No. 1414/QD-BTC as follows:

Unit: VND

Note:

Item 2.1: Transfer a reduction of 229,095,000 VND from the Office of the Ministry of Finance's estimate to increase the state budget expenditure estimates for 2024 for the General Department of Customs.

(2) General Department of Customs

Adjustment of the state budget expenditure estimates for 2024 for the General Department of Customs according to Appendix II issued with Decision No. 1414/QD-BTC as follows:

Unit: VND

Note:

• Item 2.1: Funds to implement the personnel streamlining policy according to Decision No. 1229/QD-BTC dated May 31, 2024, of the Ministry of Finance regarding the implementation of the personnel streamlining policy for the second quarter of 2024 (additional).

• General Department of Customs:

  • Implement detailed allocation and assignment of the 2024 budget estimates to subordinate estimate units according to regulations.
  • Report to the Ministry of Finance (through the Department of Planning and Finance) the detailed allocation results of the 2024 budget estimates along with the decision to adjust the 2024 budget estimates for the subordinate estimate units.

(3) Department of Price Management

Adjustment of the state budget expenditure estimates for 2024 for the Department of Price Management according to Appendix III issued with Decision No. 1414/QD-BTC as follows:

Unit: VND

Note: Adjust the usage content from the 2023 budget balance carried over to 2024 for the Department of Price Management.

Scope of State Budget under current regulations in Vietnam

According to Article 5 of the 2015 State Budget Law regarding the scope of the state budget:

Scope of the State Budget

1. State budget revenues include:

a) All tax and fee revenues;

b) All fees collected from service activities performed by state agencies; in cases where operating expenses are allocated, such fees are deductible; fees collected from service activities performed by public service units and state-owned enterprises are deposited into the state budget as prescribed by law;

c) Grants and aids from foreign governments, organizations, and individuals to the Vietnamese Government and local authorities;

d) Other revenues as prescribed by law.

2. State budget expenditures include:

a) Development investment expenditures;

b) National reserve expenditures;

c) Regular expenditures;

d) Interest payment expenditures;

e) Aid expenditures;

f) Other expenditures as prescribed by law.

3. State budget deficit.

*4. Total state budget borrowing, including borrowing to cover the budget deficit and borrowing to repay the principal of the state budget.

Therefore, according to the above regulations, the scope of the state budget includes: state budget revenues, state budget expenditures, state budget deficit, and Total state budget borrowing, which includes borrowing to cover the budget deficit and borrowing to repay the principal of the state budget.

Le Nguyen Anh Ha

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE