Requirements and time limits for allocating and giving state budget estimates in Vietnam

What are the requirements and time limits for allocating and giving state budget estimates in Vietnam? - Tuan Ngoc (Thai Nguyen)

Regulations on allocating and giving state budget estimates in Vietnam

Pursuant to Article 49 of the Law on State Budget 2015, it stipulates the allocation and assignment of state budget estimates as follows:

- After being given budget estimates by the government or the People’s Committee, budget estimate units level I shall allocate and give budget estimates to affiliated budget-using units and units of inferior budgets. The allocation of budget estimates must comply with the deadlines and requirements in Article 50 of the Law on State Budget 2015.

- Finance authorities of the same level shall inspect the budget estimates given by budget estimate units level I to their budget-using units. If the allocation is found incorrect in terms of total amount, fields, tasks, or policies, the budget estimate unit level I shall be requested to make correction within 10 working days from the day on which budget allocation report made by the budget estimate unit is received.

- Apart from the agencies competent to give budget estimates, no other organization or individual may change the given budget tasks.

Requirements and time limits for allocating and giving state budget estimates in Vietnam

Pursuant to Article 50 of the Law on State Budget 2015, the requirements and time limits for allocating and giving state budget estimates as follows:

(1) Allocation of budget estimates to budget-using units must ensure:

- Given budget estimates are complied with in terms of total amount and specific amounts by field and task;

- Policies, standards, and limits on expenditure are complied with;

- Capital and funding provided are sufficient to recover advances to be collected in the year, counterpart fund for projects funded by ODA of foreign sponsors under agreements;

- Capital for investment in development provided compiles with regulations of law on public investment, construction, and relevant regulations of law;

- Dedicated additional funding provided by superior budgets to inferior budgets is legitimate in terms of targets, recipients; commitment or regulations on allocation of local government budget to achievement of targets are complied with.

(2) Time limits for allocating and giving state budget estimates:

- With regard to budget estimates given according to Clause 5 and Clause 7 Article 44 of this Law, budget estimate units level I must finish allocating and giving budget estimates to affiliated budget-using units before December 31 of the last year according to Clause 8 Article 44 of the Law on State Budget 2015;

- In case of additional budget estimates, the superior budget estimate unit and inferior People’s Committee must finish allocating and giving the budget estimates within 10 working days.

Requirements and time limits for allocating and giving state budget estimates in Vietnam

Requirements and time limits for allocating and giving state budget estimates in Vietnam (Internet image) 

Regulations on temporary funding in Vietnam

Pursuant to Article 51 of the Law on State Budget 2015, regulations on temporary budget allocation are as follows:

- At the beginning of the budget year, before the budget estimate and budget allocation plan is decided by the National Assembly or the People’s Council, the finance authority and State Treasury may provide temporary funding for making obligatory expenditures that cannot be delayed until the budget estimate is decided by the competent authorities, including:

+ Wages and wage equivalents;

+ Operating costs and working costs;

+ Provision of additional funding for inferior budgets;

+ Other expenditures necessary for maintenance of the state apparatus operation, except for equipment purchases and repairs;

+ Expenditures on transitional projects of National target programs, projects of national importance; important and urgent transitional projects for recovery of disasters or epidemics.

- The maximum temporary funding for the expenditures mentioned in Points a, b, c, d Clause 1 of this Article must not exceed the average monthly expenditure of the last year.

- Government shall report expenditures on programs/projects funded by ODA and concessional loans that do not have budget estimates or exceed the budget estimates to Standing Committee of the National Assembly before enactment and submit a report to the National Assembly at the nearest meeting.

Mai Thanh Loi

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