NA sets 2024 State budget collection target at almost 70 billion USD
The National Assembly (NA) on November 10 adopted a resolution on the state budget estimates for 2024, which targets next year’s state budget collection at over 1.7 quadrillion VND (nearly 69.8 billion USD).
The NA adopts the resolution on the state budget estimates for 2024 on November 10. (Photo: VNA)
Hanoi (VNA) 🌺– The NationalAssembly (NA) on November 10 adopted a resolution on the state budget estimatesfor 2024, which targets next year’s state budget collection at over 1.7quadrillion VND (nearly 69.8 billion USD).
The resolution won approval from 466 of470 legislators voting at the sitting, part of the ongoing sixth session of the15th NA.
Accordingly, the state budget spendingfor 2024 is set at more than 2.1 quadrillion VND.
The state budget overspending is setat 399.4 trillion VND, equivalent to 3.6% of the gross domestic product (GDP). Itconsists of 372.9 trillion VND in the central budget overspending and 26.5trillion VND in the local budget overspending, respectively equivalent to 3.4%and 0.2% of GDP.
Meanwhile, total borrowings for thestate budget next year are targeted at more than 690.5 trillion VND.
NA deputies of Vinh Phuc province vote on the resolution on November 10. (Photo: VNA)
Theresolution also mentioned the governance of the 2023 state budget and thereform of the salary policy from July 1, 2024.
Itrequested that the Government administer the fiscal policy in a proactive, reasonable,flexible, and effective manner; harmoniously coordinate this policy with themonetary policy and others; ensure timely response to complex developments inthe domestic and international situations to maintain macro-economic stability,control inflation, boost growth, and guarantee major economic balances; andespecially take measures to address the decline in the rates of money mobilisedfrom different sources for the state budget.
TheGovernment also needs to tighten discipline and enhance the sense ofresponsibility among agencies and localities’ leaders towards the finance andbudget management and use, spend the state budget as planned in a thrifty andeffective manner, minimise unnecessary expenditures to reserveresources for disaster and epidemic response, and supplement funding fordevelopment investment and economic recovery, according to the resolution./.
Saigon Beer-Alcohol-Beverage Joint Stock Corporation (SABECO) was honoured for its efforts to overcome difficulties and make great contributions to the State budget during the 2020-2022 period.
The 15th National Assembly is scheduled to approve a salary reform policy in its ongoing sixth plenary session which will hold historical significance and bring about joy for officials and public servants, according to Minister of Home Affairs Pham Thi Thanh Tra.
Vietnam’s State budget collection in the first ten months of this year stood at 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of the estimate, and down 9.2% year-on-year, the Ministry of Finance reported.
State President Luong Cuong’s trip once again reaffirmed the Party and State’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations. It also reflected the strong trend of enhanced cooperation among countries of the Global South in shaping a new, more multipolar, fair and equitable world order.
The outcomes of Party General Secretary To Lam's visit will serve as a driving force and source of inspiration for the two countries to inherit, promote, and elevate their Comprehensive Strategic Partnership, contributing to the national construction and development cause in each country, and to peace, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh on August 9 inspected the construction site of the new Phong Chau bridge, and surveyed a planned route for the Lao Cai – Hanoi – Hai Phong railway section running through the northern province of Phu Tho.
Across print, broadcast, and online platforms, Angolan media portrayed State President Luong Cuong's visit as a warm and historic occasion, strengthening bilateral ties and boosting Vietnam’s presence in Africa through the AU.
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vice Chairman of the municipal People’s Committee Nguyen Manh Cuong highlighted ASEAN’s nearly six decades of development, during which the region transformed from division to harmony, from confrontation to cooperation, and from poverty to dynamic growth, becoming a global bright spot for regional cooperation.
The NA adopts the resolution on the state budget estimates for 2024 on November 10. (Photo: VNA)
NA deputies of Vinh Phuc province vote on the resolution on November 10. (Photo: VNA)
