To urgently research and amend the Law on State Budget of Vietnam

To urgently research and amend the Law on State Budget of Vietnam

According to Directive 22/CT-TTg, for the task of developing and perfecting the institution in Vietnam:

(1) The Ministry of Finance of Vietnam shall assume the prime responsibility for, and coordinate with ministries, central and local authorities in:

- Urgently study and amend the Law on State Budget and related legal documents as prescribed in Resolution 23/2021/QH15 on the national financial plan and the 5-year public debt borrowing and repayment period 2021-2025 in line with reality in the direction of renovating the budget decentralization mechanism, basically overcoming the state of integration in state budget management, strengthening the leading role of the central budget and the initiative of the local budget; promoting decentralization, encouraging localities to be creative, increasing revenue, mobilizing resources for socio-economic development in the locality, create initiative and self-responsibility for local authorities in budget decision making.

To continue to renovate the budget allocation mechanism for agencies and units in Vietnam

- Continuing to review, research, build, amend, supplement, and perfect the legal system on state budget revenue and expenditure, the financial autonomy mechanism of public non-business units, managing and using public assets, practicing thrift, and fighting waste according to the law-making program of the National Assembly and the Government.

- Continuing to improve the legal framework on price, price appraisal in order to promote the implementation of the policy of the Party and State on the implementation of the principle of price management according to the market mechanism with the State's regulation; thoroughly overcoming the shortcomings, limitations, and overlaps of the law in order to create unity and synchronism of the legal system on prices; improving the effectiveness and efficiency of state management in the field of prices; strengthening the role of price management; contributing to effective control of state budget revenue and expenditure; controlling inflation, and stabilize the macro-economy.

- Continuing to improve institutions and policies on public debt management in accordance with the actual situation and international practices; research, innovate, and unify the organization of the public debt management apparatus, methods, and tools for the management of the country's external debt.

To urgently research and amend the Law on State Budget of Vietnam (Internet image)

In addition, the Ministries of Planning and Investment, Natural Resources and Environment, Construction, Agriculture and Rural Development and the ministries managing sectors and fields in Vietnam shall synthesize, review, develop and complete mechanisms, policies and regulations of the law on public investment and relevant laws to ensure the settlement and handling of shortcomings and limitations that have lasted for many years, promptly removed difficulties and obstacles, contributed to raising awareness, responsibility, discipline and discipline in the implementation and disbursement of public investment capital; bidding, procurement of assets, supplies and equipment in specific fields, especially in the medical field (drugs, chemicals, medical equipment,...).

**Ministries, central, and local agencies:

- Minimizing the proposal and promulgation of new policies that reduce state budget revenue, except in cases of compliance with international commitments or decisions of competent authorities in really necessary and urgent situations, force majeure situations caused by natural disasters or epidemics; Only promulgating new policies on budget expenditure when absolutely necessary and with guaranteed financial sources, in line with the balancing capacity of the budgets at each level.

- Continuing to review and submit to competent authorities for full promulgation of regulations and guidelines for the implementation of the financial autonomy mechanism for public non-business units in accordance with the provisions of Decree 60/2021/ND-CP.

- Expeditiously performing all key tasks as prescribed in Article 4 of Resolution 74/2022/QH15.

Directive 22/CT-TTg was issued on June 23, 2023.

Duong Chau Thanh

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