Requirements for developing State budget estimates for 2024 in Vietnam

Requirements for developing State budget estimates for 2024 in Vietnam 

The requirements for developing the State budget estimate for 2024 in Vietnam are as follows:

- The State budget estimate for 2024 is developed in accordance with the provisions of the Law on State Budget, the guiding documents of the Law on State Budget and other relevant legal documents in accordance with the 10-year socio-economic development strategy for the period 2021–2030, the 5-year plans for the period 2021–2025, and goals according to the Central Resolutions;

Specific mechanisms and policies for the development of some localities according to regulations, legal documents, and directions of relevant competent authorities; have full legal basis and basis for calculation; in accordance with the assessment of the implementation situation in 2023 and the three years 2021–2023.

- Ministries and central agencies managing industries and fields should, when developing estimates, take into account the review of integration and the abolition of overlapping, duplicative, and ineffective regimes and policies (especially social security policies); Propose new policies, projects, and tasks only when balancing resources for implementation;

Fully estimating the State budget needs according to decentralization to implement new policies, regimes, and tasks that have been decided by competent authorities. Arranging estimates to recover State budget expenditure advances due for recovery within the year according to the provisions of Article 50 of the Law on State Budget and the Law on Public Investment. Not allocating expenditure estimates for policies and regimes that have not yet been issued.

- Focusing on directing, handling, and completely resolving problems and violations in financial and budget management that have been discovered and recommended by inspection and auditing agencies right from the stage of estimating in accordance with the provisions of the law.

More details can be found in Circular51/2023/TT-BTC which takes effect on August 31, 2023.

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