The government resolves obstacles in utilizing surplus budget revenue from the previous year to supplement the contingency budget for the following year.
The resolution outlines the process of addressing challenges in using the central government’s surplus budget revenue from the previous year to supplement the central government’s contingency budget for the next year. This ensures proactive and timely allocation of resources to handle unforeseen tasks and implement Party resolutions.
This regulation applies to all agencies, organizations, and individuals involved in utilizing the central government’s surplus budget revenue from the previous year to supplement the central government’s contingency budget for the following year.
According to Clause 1, Article 10 of the State Budget Law, the state budget contingency is allocated at 2% to 5% of the total expenditure of each budget level. This excludes transfers from higher-level budgets to balance lower-level budgets and targeted supplements from higher-level budgets to lower-level budgets, if applicable.
The resolution clarifies that the central government’s surplus revenue from the previous year may be used to increase the contingency budget for the following year, within the limits specified in Clause 1, Article 10 of the State Budget Law.
The government decides on the use of the central government’s surplus revenue from the previous year to supplement the contingency budget for the following year, as stipulated. The results are reported to the Standing Committee of the National Assembly and presented to the National Assembly at the nearest session.
Prime Minister Pham Minh Chinh: Vietnam’s Economy to Surge from $346 Billion in 2020 to $510 Billion by 2025
Prime Minister Pham Minh Chinh announced that Vietnam’s GDP growth is projected to exceed 8% in 2025, with an average growth rate of 6.3% from 2021 to 2025, surpassing the previous term’s 6.2%. The country’s economic scale is expected to expand from $346 billion in 2020 to $510 billion in 2025, propelling Vietnam up five places to the 32nd position globally.
Streamlining Conditional Business Investment Sectors to Empower Investors
To ensure the quality of the amended Investment Law submitted to the National Assembly, Vice Chairman of the National Assembly Vũ Hồng Thanh stated that the NA Standing Committee has requested the Government to direct relevant ministries and sectors to further refine the draft law.
Upcoming National Assembly Elections: Key State Leadership Appointments and Dismissals on the Horizon
During the first week of the 10th Session, the National Assembly will conduct elections, approve appointments, and relieve several key leadership positions within the state apparatus.
10th Session of the 15th National Assembly to Officially Commence on October 20th
Unveiling on October 20th, the 10th session of the 15th National Assembly is poised to be the most substantial of its term. With a staggering 49 legislative bills, 4 legislative resolutions, and 13 critical socio-economic, budgetary, and oversight agendas on the table, this session promises to be a pivotal moment in shaping the nation’s future.
Official: No Personal Income Tax for Earnings Below 17 Million
The Standing Committee of the National Assembly has agreed to implement the new tax calculation period starting from the 2026 tax year, ensuring alignment with the upcoming amendments to the Personal Income Tax Law.
