Nov 12, 2012

Vietnam - National Assembly adopts 2013 budget estimates

Follow Me on Pinterest
VietNamNet Bridge – The National Assembly adopted a resolution on the State budget estimates for 2013 at its working session on November 10.

Accordingly, budget revenues are projected at 816 trillion VND (roughly 38.8 billion USD) while spending would be 978 trillion VND (46.5 billion USD). This would translate into a deficit of 162 trillion VND, equivalent to 4.8 percent of GDP.

The resolution requests that the government pursue a tight fiscal policy in combination with suitable monetary policies to curb inflation and maintain a stable macro economy, while seeking ways to fully tap domestic and foreign resources for restoring production, stimulating business and boosting economic growth.

The NA also requires the government to strictly manage spending activities to prevent wastefulness and corruption, and promote thrifty spending. New construction and projects will be limited next year in order to save money to pay for completed projects or those slated to complete within 2013.

The minimum wage will be adjusted up by 100,000 VND to 1.15 million VND by July 1 next year.

NA deputies back vote of confidence resolution

National Assembly deputies voiced their support for a NA resolution on conducting a vote of confidence on officials holding positions elected or approved by the NA or People’s Councils in a live televised debate in Hanoi on November 10.

Many deputies stressed that the vote of confidence must be open and transparent, and not be a vote based on personal feuds or group benefits. Furthermore, it should prevent hostile forces using it as an instrument to sabotage the Party and State, dividing the great national unity.

Members said the resolution will reinforce the socialist law-governed state of Vietnam - of the people, by the people and for the people, and follow the spirit of the Resolution of the Communist Party of Vietnam Central Committee’s 4 th meeting.

It will also strengthen the Constitution regulations and represent the NA’s responsibilities to voters and the people, they said.

Deputies stressed the resolution will help improve efficiency of the supervision of those holding positions elected or approved by the NA or People’s Councils, and ensure the viability of the vote of confidence regulation as stated in the Constitution and other legal documents.

VietNamNet/Vietnam Plus

Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. Since we are currently changing the platform of, you may contact us at:, provisionally. Many thanks.

No comments:

Post a Comment