Vietnam: Contents for making the local budget estimates for 2014 at all levels

Vietnam: Contents for making the local budget estimates for 2014 at all levels (Illustrative image)

Under Article 11 of Circular 90/2013/ND-BTC, 2014 is the year within the period of local budget stability (2011 - 2015) according to the regulations of the Law on State Budget and Resolutions of the National Assembly of Vietnam. The Standing Committee of the National Assembly of Vietnam, and People's Committees at all levels proactively make their local budget estimates based on stable allocated revenues and expenditures. The local budget estimates for 2014 are made based on the following: the determined revenues based on the percentage (%) allocated for revenue shared among different budget levels, local budget revenue that remains 100% as per the Law on State Budget, and the balanced additional funding from higher budget levels to lower budget levels (if any) based on the 2013 estimates approved by the National Assembly of Vietnam, the Standing Committee of the National Assembly of Vietnam, the higher-level People's Council, the Prime Minister of Vietnam, and assigned by the higher-level People's Committee.

Based on local socio-economic development tasks for 2014, current policies, and expenditure norms; make the 2014 budget expenditure estimates specifically for each sector, prioritizing tasks, while implementing the main content as follows:

- Continue reviewing and classifying projects to prioritize funding allocation for projects with socio-economic efficiency, projects serving economic restructuring, disaster recovery, and projects expected to be completed in 2014. Review and closely supervise the budget allocation for infrastructure construction projects such as economic zones, and industrial parks, where infrastructure projects have socio-economic development significance not only for the locality but also for the region; before implementation, proactively seek advisory opinions, and supervision from central agencies, feedback from professional organizations, related localities to ensure overall regional economic efficiency, avoiding fragmented investments with limited spatial (administrative boundaries) and temporal (implementation term) vision. Focus on tasks such as poverty eradication, job creation, and addressing social issues; allocate sufficient counterpart funds for ODA projects and preferential loans as per local regulations from local budgets; allocate resources in the capital construction expenditure estimates to handle construction debts, pre-advance payments, and repay the mobilized debt upon maturity.

- Allocate budget estimates for basic construction investment from land levy revenues to invest in socio-economic infrastructure projects, resettlement projects, prepare building sites; proactively establish a land development fund per the regulations in Decree No. 69/2009/ND-CP dated August 13, 2009, of the Government of Vietnam; prioritize allocations to expedite land survey tasks, establish a cadastral data system, and issue land use right certificates as per the Land Law Regulations and the National Assembly of Vietnam's resolutions.

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More details may be found in Circular 90/2013/ND-BTC effective from August 14, 2013.

Le Vy

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