NA delegates voted to approve the Resolution on state budget estimates for the year 2024 (Photo: Nhandan.vn)

In the morning of November 10th, the National Assembly officially passed the Resolution on the 2024 state budget estimate, with 466/470 delegates voting in favor (equal to 94.33% of the total number of National Assembly delegates).

According to the resolution of the National Assembly, state budget revenue for the  year 2024 is VND 1,700,988 billion. Total state budget expenditure is 2,119,428 billion VND.

Revenue transferred from the local budget's wage reform until the end of 2023 and the remaining balance transferred to the 2024 budget allocation of some localities is 19,040 billion VND to apply the base salary of 1.8 million VND/month.

The state budget deficit is 399,400 billion VND, equivalent to 3.6% of total domestic product (GDP), including: central budget deficit of 372,900 billion VND, equivalent to 3.4% of GDP; Local budget deficit is 26,500 billion VND, equivalent to 0.2% of GDP.

The total loan amount of the state budget is 690,553 billion VND.

Voting results for approval of Resolution on state budget estimates for 2024. (Photo: Nhandan.vn)

Regarding state budget execution for the year 2023, the National Assembly allows the usage of 145.9 billion VND to recover funds temporarily allocated in 2022 to a number of localities to implement housing rental support policies for workers. If there is a surplus, the source will be transferred to supplement localities that lack resources to implement policies and finalize the 2023 budget year.

Along with that, it is allowed to transfer the entire VND 13,796 billion source of revenue increases, cuts, and savings in central budget expenditures in 2021 to arrange annual public investment estimates and plans in 2023, 2024, 2025 for projects of the Ministry of Transport and 8 localities.

At the same time, it is allowed to transfer state budget estimates to implement the 3 National Target Programs in 2023 (including development investment capital, regular funding from the central and local budget) to the year 2024 for implementation.

Regarding the implementation of salary policy, from July 1, 2024,  overall salary policy reform is implemented according to Resolution No. 27-NQ/TW. Funding for implementing wage reform is extracted from the accumulated wage reform source of the central and local budget and a part allocated in the state budget balance estimate.

Adjusting pensions, social insurance benefits, monthly benefits, preferential benefits for meritorious people and some social security policies are tied to the base salary.

​ Chairman of the NA’s Finance and Budget Committee Le Quang Manh present a report on explaining, receiving and revising the draft Resolution on state budget estimates for 2024. (Photo : Nhandan.vn)

For central state administrative agencies and units that are implementing specific financial and income management mechanisms.

Specifically, from January 1, 2024, to June 30, 2024, the salary and additional monthly income will be calculated based on the base salary of 1.8 million VND/month under specific mechanism that ensures it does not exceed salary and additional income received in December 2023 (excluding the additional salary and income due to adjusting the salary coefficient of rank and grade when upgrading grades or scales in 2024).

With the above-mentioned principle, if the salary and additional income in 2024 calculated under the specific mechanism is lower than the salary of general regulations, the salary regime only implemented under general regulations to ensure benefits. for workers.

From July 1, 2024, abolish all specific financial and income management mechanisms of state agencies and administrative units, apply a unified salary, allowance, and income regime; Do not continue to apply the current specific mechanism for regular funding under the specific financial management mechanism (operational expenses, capacity enhancement, modernization, professional performance maintainance, etc. .) of state agencies and administrative units. The National Assembly assigned the Government to organize the implementation and report to the National Assembly at the 8th Session.

The resolution also clearly states that ministries, central agencies and localities continue to implement solutions to create sources of salary policy reform under regulations; Allows continuing to exclude some revenues when calculating the increase in local budget revenue set aside for salary reform stipulated under Resolution No. 34/2021/QH15 of the National Assembly.

Previously, Chairman of the Finance and Budget Committee Le Quang Manh has presented the Report on explaining, absorbing and revising the draft Resolution on state budget estimates for 2024./.