Increase statutory pay rate, pension, and preferential allowances for people with meritorious services by 7% per year

16:58, 11/07/2024

This is one of the orientations of the National Assembly regarding the State Budget (NSNN) expenditure plan stated in Resolution 25/2016/QH14 for the national five-year financial plan approved by the 14th National Assembly during its 2nd session on November 09, 2016.

The national five-year financial plan is implemented according to the following orientations:

- State Budget Revenue: Amend and supplement revenue policies, gradually increase the ratio of GDP mobilized into the state budget, ensure the proportion of domestic revenue;- State Budget Expenditure: Ensure expenditure for human resources, social security, and expenditure for national defense and security. Specifically:- 20% of total expenditure for education and training;- 2% of total expenditure for science and technology.- Adjust the statutory pay rate, pensions, and preferential allowances for people with meritorious services, increasing on average by approximately 7% per year.- State Budget Deficit:- Significantly reduce the state budget deficit ratio;- Restructure public debts, reduce the proportion of foreign debt, and increase the proportion of domestic debt.- Develop the bond market, limit the issuance of international bonds, and maintain the maturity of Government of Vietnam bonds over 5 years.

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