Total revenue and expenditure of the central budget in Vietnam 2023

Total revenue and expenditure of the central budget in Vietnam 2023 (Internet image)

On November 11, 2022, the National Assembly of Vietnam passed Resolution 70/2022/QH15 on central budget allocation in 2023.

Total revenue and expenditure of the central budget in Vietnam 2023

The total revenue and expenditure of the central budget in 2023 is as follows:

- Total central budget revenue is 863,567 billion VND (eight hundred and sixty-three thousand, five hundred, and sixty seven billion dong). Total local budget revenue is 757,177 billion VND (seven hundred and fifty-seven thousand, one hundred and seventy-seven billion dong).

- Total central budget expenditure is 1,294,067 billion VND (one million, two hundred and ninety four thousand, zero hundred and sixty seven billion dong), of which it is estimated at 436,204 billion dong (four hundred and thirty-six thousand, two hundred and four billion dong) to supplement the budget balance and target the local budget.

Tasks of the Government of Vietnam in Allocating the Central Budget in 2023

Thus, assigning the Government of Vietnam in:

- Assigning tasks of state budget revenue and expenditure and central budget allocation to each ministry, central agency, and each province and centrally run city in accordance with the provisions of the Law on State Budget and the Resolution of the National Assembly and notifying in writing each National Assembly delegation of the province or city directly under the Central Government.

- Directing and guiding ministries, central agencies and provinces and centrally run cities to allocate investment capital from the state budget; ensuring focus, focus, focus, compliance with conditions and priority order specified in the Law on Public Investment, Resolution of the National Assembly, Resolution of the National Assembly Standing Committee; allocating sufficient capital for tasks and projects under the program of socio-economic recovery and development according to the provisions of Item dd, Point 1.2, Clause 1, Article 3 of Resolution 43/2022/QH15; prioritizing the full payment of outstanding debts for capital construction in accordance with law; recovering the entire remaining advance capital to be recovered in the medium-term public investment plan for the period 2021 - 2025; allocating sufficient capital for projects that have been completed, handed over and put into use before 2023, reciprocal capital for ODA projects and foreign concessional loans, state budget capital involved in PPP projects, investment preparation tasks, planning tasks, transition projects must be completed in 2023; allocating capital according to schedule for important national projects, connecting projects, having inter-regional impacts, which are significant for promoting fast and sustainable socio-economic development; After allocating sufficient capital for the above tasks, the remaining capital shall be allocated for new construction projects to meet all investment procedures.

Upholding financial discipline and discipline, strictly handling violations that hinder the progress of capital allocation and disbursement, and individualizing the responsibility of the head in cases of slow disbursement are associated with the assessment of the level of completion of the assigned tasks.

- Directing the People's Committees of the provinces and centrally-run cities to submit to the People's Councils of the same level for decision estimates of state budget revenues in the locality; local budget expenditure estimates; local budget overspending; total local budget borrowing (including borrowing to cover overspending and borrowing to repay principal); decide on the allocation of budget estimates according to its competence and in accordance with the provisions of the Law on State Budget.

Based on the actual situation and the ability to balance the local budget, the percentage (%) of the revenues divided between the central budget and the local budget, the number of supplements to balance the budget, the number of supplements with a target, the provincial People's Committees to review and submit to the People's Councils of the same level for decision on the decentralization of revenue sources and spending tasks among budget levels in the locality; the percentage (%) divided between budgets of all levels of local government for the portion of the local budget that is entitled to 100% of local budget revenues and the revenues divided between budget levels, the additional level for the budget of each level of the lower local government must comply with the provisions of the Law on State Budget, the Resolution of the National Assembly on the state budget estimate in 2023 and this Resolution.

(4) Dividing the revenue from the fee for granting the right to exploit water resources according to the provisions of Resolution 64/2018/QH14 for 2023 and stabilizing it in the period of 2023–2025.

(5) Division of environmental protection tax on gasoline and oil products between the central budget and the local budget according to the provisions of the Law on State Budget of Vietnam  for 2023 and stably for the period of 2023–2025 on the basis of the volume of gasoline and oil produced and sold domestically compared to the total output of gasoline and oil consumed in the market, specifically: 60% implement the division between the central budget and the local budget, the remaining 40% regulate 100% of the central budget.

(6) Use of income from lottery activities for development investment; in which, priority is given to investment in the fields of education - training and vocational education, including the procurement of teaching equipment for the program of renewal of general education textbooks), and the health sector; the rest will prioritize the implementation of other important and urgent development investment tasks that fall under the investment of the local budget.

(7) Urgently complete documents guiding the implementation of 03 National Target Programs, timely allocate, and allocate capital to ensure speeding up the implementation and disbursement of capital in 2023. Develop a plan to allocate 1,208,188 billion VND of development investment capital (domestic capital: 183,188 billion VND, foreign capital: 1,025 billion VND) to the central budget capital plan in 2023 of the National Target Program on new rural construction and National target program for socio-economic development in ethnic minority and mountainous areas for each ministry, the central agency, and each province and city under central authority, and submit it to the National Assembly Standing Committee for consideration and a decision before March 31, 2023.

(8) Expeditiously develop principles, criteria, and allocation norms for the whole period of budget stability for the Program for the conservation and sustainable promotion of Vietnamese cultural values in the 2021–2025 period and the Program to support the development of collective economies and cooperatives for the period of 2021–2025 and submit them to the National Assembly Standing Committee for consideration and decision.

(9) A stable arrangement in the recurrent expenditure estimates of the local budget for the period of 2023–2025 includes the entire need to spend the state budget to implement social security policies has been promulgated by the central government according to the multidimensional poverty line for the period 2022–2025, calculated according to the current base salary of 1.49 million VND/month (excluding additional state budget expenditures incurred to implement policies based on an increase in the base salary compared to the current base salary of 1.49 million VND/month and expenditures for the implementation of regimes and policies specified in Clause 10 of this Article).

(10) Urgently complete procedures and conditions for allocation in accordance with regulations on expenditures of the central budget that have not yet been allocated to ministries, branches, and localities, and report to the National Assembly for consideration and decision in urgent cases between two sessions of the National Assembly, submit to the Standing Committee of the National Assembly for consideration and decision, and report to the National Assembly at the next session the amount of VND 70,735.172 billion in Section VI, Section X of Appendix II to this Resolution. The Government learned from experience in making estimates, overcoming the situation of large unallocated funds when submitting the state budget estimate to the National Assembly.

(11) Review and accurately calculate the cost of price compensation in the off-take of products of Nghi Son Refinery and Petrochemical Project in accordance with the provisions of Resolution 42/2021/QH15 and report to the National Assembly for consideration and decision. In urgent cases, in the period between two sessions of the National Assembly, report to the Standing Committee of the National Assembly for consideration and decision and report to the National Assembly at the nearest session. At the same time, report to the National Assembly Standing Committee the results and progress of the implementation of Notice No. 25/TTKQH-TCNS-m dated April 19, 2022, based on the opinions of the National Assembly Standing Committee; including content related to the price offsets in the overdraft made in the past.

Diem My

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