The National Assembly adopted a resolution on State budget allocation in 2020 in the morning of November 14, with 90.48 percent of approval votes.

Under the resolution, central budget collection is set at more than 851.76 trillion VND (36.7 billion USD), and accumulative local budget collection at over 660.53 trillion VND.

Meanwhile, central budget spending is set at over 1,069 trillion VND, including more than 367.7 trillion VND reserved for supplementing the State budget balance and local budgets.

The NA has tasked the Government with assigning tasks in State budget collection, spending and allocation to ministries, central agencies and centrally-run cities and provinces in line with legal regulations.

The Government is also in charge of allocating the remaining capital of the national target programmes on new-style rural area building and on completely treating facilities causing serious environmental pollution.

The Government will implement solutions to restructure public debt in accordance with the Law on Public Debt Management, and instruct People’s Committees of centrally-run cities and provinces to submit budget collection and spending estimates to People’s Councils of the same level for approval.

According to the resolution, the Prime Minister will assign the plans on public investment sourced from the State budget in 2020 to ministries, central agencies and localities before November 30.

Ministries, central agencies and localities will submit detailed allocation plans to the Ministry and Planning and Investment no later than December 31, 2019.