RESOLUTION

ON STATE BUDGET ESTIMATES IN 2015

NATIONAL ASSEMBLY
OF SOCIALIST REPUBLIC OF VIETNAM

Pursuant to the Constitution of the Socialist Republic of Vietnam;

Pursuant to the Law on  State Budget No. 01/2002 / QH11;

Considering the Government’s Report No. 420 / BC-CP dated October 17, 2014 to the National Assembly on the state budget estimates in 2015; the Finance - Budget Committee’s Verification Report No. 2289 / BC-UBTCNS13 dated October 18, 2014; The Standing Committee of the National Assembly ‘s acquisition and explanation Report No 770 / BC-UBTVQH13 dated November 7, 2014 on the situation of the state budget in 2014, the state budget estimates in 2015 and National Assembly deputies’ opinions,

RESOLVES:

Article 1. Approval of state budget estimates in 2015

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Estimated gross state budget balance expenditure is 1,147,100 VND (one million one hundred forty-seven thousand and one hundred billion).

State budget deficit  is 226,000 VND (two hundred and twenty six thousand billion), equivalent to 5% of gross domestic product (GDP).

 (Enclosed with the Appendices 1, 2, 3, 4 and 5)

Article 2. Government’s responsibilities

1.Execute closely the fiscal policy; distribute concentratedly the state budget expenditure,  be against spreading, waste or loss of the budget; manage and use it economically and effectively. Improve quality of inspection, audit and strengthen financial - budget disciplines. Provide guidance on the implementation of the state budget in accordance with the provisions of the Constitution and Laws, the revenues and expenditures of the state budget must be estimated and prescribed by law.

2. Intensify measures for anti-smuggling, trade fraud, price transfer and tax evasion; timely recover of the revenues detected through inspection, audit; reduce of tax arrears. Not propose, enact new policies to reduce state budget revenues, except for tax cuts for the implementation of international commitments.

3. Continue to collect into the state budget the dividends distributed in 2015 to the part of the state capital of the shared companies having the state capital represented to be the owners by ministries, branches, localities and the remaining gains after setting up the fund in accordance with the law in the state conglomerates and corporations owning 100% charter capital.

4. Continue to collect into the state budget 75% of the interest of oil, gas that the host nation is divided and the document reading’s incurred amount of money in 2015; The remaining amount (25%) shall be given to PetroVietnam to invest in accordance with law.

5. Operate the state budget expenditures within fund allocated according to the budget estimate. Not allow to advance the state budget estimates of the following year; in special circumstances, the government shall request the Standing Committee of the National Assembly to consider and decide the advances. Review and strictly manage to significantly reduce the forward expenditures, only forward for remaining-task and really necessary expenditures in accordance with the law. Stay thrifty when making regular payments, not buy public vehicles (except for specialized vehicles as prescribed in law); minimize expenditures on festivities, conferences, seminars, construction commencement ceremonies, work inauguration ceremonies and abroad business trip. To organize all-level Party congress in radically saving ways. To strictly implement the Law on thrift practice and anti-wastefulness.

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If ODA disbursement exceeds the estimates, the Government must submit a report to the National Assembly Standing Committee before the disbursement ; promote cooperations in the form of public-private partner (PPP) and other investment forms without using the state budget to mobilize radically investment resources for economic - social development.

8. Review the objectives of 16 national target programs to focus the distribution of the budget for urgent and important objectives, completing in 2015. Summarize and evaluate the results of the implementation of the national target programs deployed in the period 2011-2015; conduct a major review to cut, combine, shorten the national target programs in the period 2016-2020; report to National Assembly in Xth tenure.

9. Strictly control the state budget’s deficit; have positive measures to reduce the deficit  and increase fund of debt payments in operations of the state budget. Use increased revenues of state budget in 2014 to primarily prioritize debt payments of  agencies funded by state budget levels, make some payments under the provisions of the Law on State Budget.

Calculate correctly and adequately public debts without exceeding the ceiling under the resolution of the National Assembly (65% GDP), strictly manage of public debts, especially loans guaranteed by the government and loans taken for on-lending purposes. Improve the efficiency of using loans and closely manage funds accumulated to pay debts. Continue the measures of  restructuring the loans. Since 2015, issue government bonds with 05 year terms or longer, not take the short-term loans to cover state budget deficit, reduce rollover loans.

10. Direct Ministries, regulatory bodies and local authorities to expand the autonomy mechanism of public units associated with the steps of pricing the public services. Gradually change the directly support mode of the State for the public units into ordering mechanism.

Article 3. Monitoring implementation of state budget estimates

The National Assembly Standing Committee, Finance – Budget Committee, Ethnic Council and other Committees of the National Assembly , the National Assembly representatives shall monitor the implementation of the state budget estimates in 2015 in the responsibilitiy and power scopes as prescribed in law.

This resolution has approved by the National Assembly of the Socialist Republic of Vietnam, the XIIIth tenure , 8^th plenum on November 10, 2014.

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CHAIRMAN OF THE NATIONAL ASSEMBLY




Nguyen Sinh Hung

APPENDIX 01

STATE BUDGET BALANCE IN 2015

Unit: Billion dong

No.

CONTENTS

Estimates in 2015

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911,100

1

Domestic revenue

638,600

2

Crude oil revenue

93,000

3

The balance revenue from export-import operations

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4

Aid revenue

4,500

B-REVENUE FROM TRANSFERRING CENTRAL BUDGET FROM 2014 TO 2015

10,000

C - GROSS BALANCE EXPEDITURE OF STATE BUDGET

1,147,100

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Expediture on development investment

195,000

2

Expediture on debt payments and aid

150,000

3

Expenditure on economic – social development, national defence, security and administrative management.

767,000

4

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10,000

5

Expediture on development of financial reserve fund

100

6

Provisions

25,000

DEFICIT OF STATE BUDGET

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Deficit rate compared with GDP

5,0%

APPENDIX 02

REVENUE AND EXPENDITURE BALANCE OF THE CENTRAL BUDGET AND LOCAL BUDGET ESTIMATES IN 2015

Unit : billion dong

No.

CONTENTS

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A

CENTRAL BUDGET

I

Central budget revenue

589,807

1

Central budget revenue received according to decentralization

579,807

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-Collection of taxe, fee and other charges

575,307

-Aid revenue

4,500

2

Revenue from transferring central budget from 2014 to 2015

10,000

II

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815,807

1

Expenditure depending on the tasks of the central budget according to decentralization

586,586

2

Expediture on supplement for local budget

229,221

- Supplement to cover budget deficit

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- Supplement to serve certain purposes

83,328

III

Loan for covering deficit of  state budget

226,000

B

LOCAL BUDGET

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Local budget revenue

560,514

1

Central budget revenue received according to decentralization

331,293

2

Supplement revenue from central budget

229,221

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145,893

Supplement to serve certain purposes

83,328

II

Expenditure of  local budget

560,514

1

Estimated expenditure of local budget

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2

Expenditure from source of supplement to serve certain purposes

83,328

APPENDIX 03

ESTIMATES OF REVENUE OF STATE BUDGET BY CATEGORY  IN 2015

Unit: Billion

No.

REVENUE CONTENT

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ESTIMATED GROSS REVENUE OF STATE BUDGET

911,100

I

Domestic revenue

638,600

1

Revenue from state-owned enterprises

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2

Revenue from foreign invested enterprises

142,459

3

Revenue from  non-state industrial and commercial sector

119,546

4

Agricultural land use tax

33

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Personal income tax

51,266

6

Registration fee

15,435

7

Environmental protection tax

12.939

8

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14,035

9

Revenue from house and land

46,590

a

Non-agricultural land use tax

1,330

b

Revenue from land rental, water surface rental

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c

Revenue of from collective of land use levies

39,000

d

Revenue from the state-owned home sale 

405

10

Revenue other than state budget revenues

14,365

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Revenue from public land, the yields of public property in the communes

1,090

II

Revenue from crude oil

93,000

III

Balance revenue from export-import operation

175,000

1

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260,000

a

Import & export duties, special consumption tax , exports environmental protection taxes

83,400

b

VAT of imported goods ( gross revenue)

176,600

2

VAT refund

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IV

Aid revenue

4,500

APPENDIX 04

EXPENDITURE ESTIMATES OF THE STATE BUDGET, CENTRAL BUDGET AND LOCAL BUDGET ACCORDING TO EXPENDITURE STRUCTURE IN 2015

Unit: Billion dong

No.

CONTENT

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DIVIDED

Central budget

Local budget

A

Estimated gross expenditure of state budget

1,147,100

(1)     669,914

(2)    477,186

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Expenditure on development investment

195,000

97,306

97,694

Of which:

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Expenditure on  education - training, vocational training

33,756

14,096

19,660

2

Expenditure on science and technology

7,600

4,130

3,470

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Expenditure on debt payment and aid

150,000

150,000

III

Expenditure on development of economy, society, defense, security, administrative management

767,000

399,608

367,392

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Of which:

1

Expenditure on education - training, vocational training

184,070

32,070

152,000

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Expenditure on science and technology

9,790

7,640

2,150

IV

Expenditure on salary system reform

(3) 10,000

10,000

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Expediture on supplement of financial reserve budget

100

100

VI

Provision

25,000

13,000

12,000

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Expenditure from revenues managed through  state budget

109,686

85,906

23,780

C

Expenditure from sources of foreign loans taken for on-lending purposes

40,900

40,900

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TOTAL (A + B + C)

1,297,686

796,720

500,966

Notes:

(1) It has covered expenditure on supplement with targets for local budgets

(2)It has covered balance supplement expenditure of VND 145 893 billion from central budget to local budget; expenditure on supplement to serve certain purposes from the central budgets to local budgets has not been included.

(3) Including sources of the local budget, gross expenditure on salary system reform is 11,100 billion.

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REVENUES, EXPENDITURES MANAGED THROUGH  BUDGET IN 2015

Unit : billion

No.

CONTENT

ESTIMATES IN 2015

TOTAL

109,86

I

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24,686

1

Fees for maritime safety assurance

906

2

Other charges and fees and contribution to the building of infrastructure; revenue and expenditure in communes

3,780

3

Revenue from lottery

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II

Investment expenditure from government bonds

85,000