Changing the way to calculate the cost of using the state budget of Vietnam

Bao Ngoc

10:42, 15/11/2021

On November 12, 2021, the Ministry of Finance of Vietnam promulgated Circular 97/2021/TT-BTC amending and supplementing some Article by Circular 23/2020/TT-BTC stipulating advances and borrowing from the state budget.

According to the Circular, amending the calculation of the cost of using the state budget as follows:

The central budget when making advances or borrowing from the state budget and the provincial budget when making advances to the state budget is responsible for paying the expenses for using State Treasury of Vietnam on a monthly basis (no later than the 10th day of the month following the month of payment):

The cost of using the state treasury is equal to the interest rate applicable to deposits in Vietnam dong of the State Treasury at the State Bank of Vietnam under the decision of the Governor of the State Bank of Vietnam in the same period.

(Currently, Circular 23/2020/TT-BTC of Vietnam stipulates the cost of using the state budget at 0.10%/month, on the basis of a 30-day month).

Note: The outstanding balance of advances and loans from the state budget as of January 1, 2022, is subject to the cost of using the state budget according to the provisions of Circular 97/2021 from January 1.

Advances and loans from the state budget approved before January 1, 2022, but withdrawn after January 1, 2022 are subject to the cost of using the state budget as prescribed in Circular 97/2021 of Vietnam.

Circular 97/2021/TT-BTC of Vietnam takes effect from January 1, 2022.

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