NA approves 2013 budget plan

VGP – The National Assembly on Saturday approved the Resolution on 2013 budget estimates, which puts expenditure at VND 978,000 billion and budget overspending at 4.8% GDP.

November 10, 2012 5:54 PM GMT+7

Photo: VGP

Under the resolution, minimum salary level will be increased from the current VND 1.05 million to VND 1.15 million/month since July 1, 2013.

The Government is assigned to cautiously implement fiscal policy in synchronous combination with monetary policy to rein in inflation and stabilize macro-economy.

The system of tax policies will continue to be perfected towards lowering tax and fee levels and speeding up economic restructuring process.

The resolution requires efforts to ensure the effectiveness and transparency of public expenditures to avoid wastefulness and corruption. Regular expenditure items, especially for organizing festivals, seminars, public car purchasing will be reduced to prioritize capital for social welfare targets.

The National Assembly also allowed to raise the maximum of VND 60,000 billion in 2013 through issuing Government bonds, according to the resolution./.

By Hai Minh