Vietnam: Documents about state budget estimate and budget allocation plan

Specifically, according to Article 47 of the Law on State Budget 2015 of Vietnam, documents about state budget estimate and budget allocation plan submitted by the government to the National Assembly include:

- Assessment of enactment of current year’s state budget; the basis for making state budget and allocation of central government budget; basic contents and solutions for enactment of state budget estimate;

- Estimate of state budget revenues and solutions for raising sources of revenues for state budget;

- Estimate of state budget expenditure, important targets and programs of the economy, major policies of Communist Party and the State related to state budget;

- State budget deficit and covering sources; Ratio of deficit to GDP;

- 5-year financial plan for the first year of the period;

- 3-year state budget – finance plan;

- Report on public debt according to the Law on Public debt management, specifying the due debt, overdue debt, interest payable in the year, additional debt derived from loans taken to cover state budget deficit; solvency of the year and total debt by year’s end;

- Report on implementation the financial plan, formulate next year’s financial plans of off-budget financial fund under the management of central agencies;

- Specific policies and solutions for stabilizing state budget and finance;

- List, progress, and investment estimate of programs/projects of national importance funded by state budget in the planned year as decided by the National Assembly;

- Expenditure estimate of each of the Ministries, ministerial agencies, Governmental agencies, other central regulatory agencies sorted by field; revenue and obligatory expenditure, level of deficit, ratio of revenue distribution and amount of additional funding for budget of each province;

- Other documents explaining estimates of state budget revenues and expenditures and central government budget allocation plan; tax exemption or reduction in the state budget estimate report submitted to the National Assembly.

The government shall specify the documents about estimates and allocation plans of local government budgets to be submitted by the People’s Committees to the People’s Councils at the same level.

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