Terms for Temporary Advances from the State Treasury Applicable from June 01, 2020

13:02, 10/07/2024

Recently, the Ministry of Finance issued Circular 23/2020/TT-BTC stipulating the advance and borrowing of state treasury funds by the state budget.

Circular 23/2020/TT-BTC stipulates that in cases where the central budget fund or provincial budget fund experiences temporary shortfalls, they may temporarily borrow from the state treasury. The provincial budget borrowing from the state treasury must meet the following conditions:

- No overdue debts from previous state treasury loans at the time of the borrowing request;- Written approval from the Standing Committee of the Provincial People's Council (the Standing Committee of the Provincial People's Council is responsible for reporting to the Provincial People's Council at the nearest session) regarding the temporary borrowing from the state treasury to address the temporary shortfall in the provincial budget fund;- The proposed borrowing amount does not exceed the maximum borrowing level from the state treasury as specified in Clause 2, Article 6 of this Circular.

For details, refer to: Circular 23/2020/TT-BTC, effective from June 1, 2020.

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