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Minister of Finance Ho Duc Phoc |
The Minister made the statement at the opening sitting of the 15th-tenure National Assembly’s sixth session at the National Assembly House in Hanoi.
At the meeting, authorized by the Prime Minister to report to the National Assembly on budget balance, Minister of Finance Ho Duc Phoc said that the estimated state budget revenue in 2024 is about VND 1,700,900 billion (US$68,712,953,428), an increase of VND 80,100 billion compared to the estimation in 2023.
The above estimate, according to the Government, is positive in the context that the socio-economic situation at home and abroad still poses many potential risks and challenges. Regarding spending, the estimated state budget deficit in 2024 is VND 399,400 billion, equal to about 3.6 percent of GDP. By the end of 2024, the targets of public debt, Government debt, national foreign debt, and direct debt repayment obligations of the Government are within the scope allowed by the National Assembly.
Notably, regarding financial resources for salary reform, the head of the Ministry of Finance said that about VND132,000 billion will be allocated for salary reform including an accumulated source of the local budget over VND430,000 billion.
Therefore, he affirmed the salary policy reform can be implemented according to the Resolution 27-NQ/TW from July 1, 2024.
In particular, the Government submitted to the National Assembly permission to use about VND 19,000 billion to transfer the remaining salary reform resources to allocate 2024 estimates of some localities to implement a base salary of VND1.8 million a month.
