The National
Assembly (NA) has adopted State budget estimates for 2011 by an 80.53 percent
vote, with VND605 trillion in total revenues, VND10 billion of which comes from
2010 incomings, VND725.6 trillion in total spending, and VND120.6 trillion in
overspending.

The NA has adopted State budget estimates for 2011 by an 80.53% vote. (Photo: VNN)

On November 11, NA deputies heard
Director of the National Assembly’s Committee for Finance and Budget, Phung Quoc
Hien, presenting a report on the draft resolution on State budget estimates for
2011. The deputies agreed upon solutions to properly implement next year’s
estimates, fiscal policies and the State budget’s spending.

They also consented to a plan to
issue government bonds worth VND45 trillion to invest in projects decided upon
by the NA Standing Committee.

The resolution on the 2011 State
budget estimates underlined the need to strictly control the capital
mobilisation and use, including domestic and foreign loans to State-owned
enterprises, particularly economic groups and State corporations to ensure the
right and effective use of all capital resources.

It is essential to define the
responsibility of leaders of agencies, organisations and units for the use of
budget, property and other capital resources from the State, says the
resolution.

15 key national programmes will be
carried out in 2011 under the Government’s proposal. Therefore, the NA has asked
the Government to build criteria and plans to allocate capital to ministries,
sectors and localities for implementation. All these plans will be submitted to
the NA Standing Committee before January 31, 2011.

The same day, NA deputies gave their
opinions on the draft law on amendments and supplements to some articles of the
Securities Law.

VietNamNet/VOV