4 Requirements for Financial Planning - State Budget for the 3 Years 2019 – 2021

According to Circular 54, when developing the financial plan – the state budget for the three years 2019 – 2021, the following requirements must be met:

- The development of the financial plan – the state budget for the three years 2019 – 2021 should follow the guidance in the financial plan – the state budget for the three years 2018 – 2020, within the spending limit for the period 2019 – 2021.- Specifically for the year 2021, the development of revenue, expenditure tasks, deficit, and borrowing should be based on the Law on State Budget, tax, fee, and charge laws, the Law on Public Investment, the Law on Public Debt Management, relevant effective laws, and guiding documents.- The set objectives: For the years 2019 and 2020, strive for higher growth than in 2018, with the average growth rate for the entire period 2016 – 2020 ranging from 6.5% to 7%; for 2021, the economic growth rate is likely to slow down; the consumer price index stabilizes at below 4% per annum; the growth rate of export and import value of goods tends to decrease.- The development, reporting, summarizing, and submission of the financial plan – the state budget for the three years 2019 – 2021 should be carried out simultaneously with the process of developing the state budget estimate for 2019.

See more regulations on developing the state budget revenue plan in Circular 54/2018/TT-BTC, effective from July 23, 2018.

- Thanh Lam -

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