| THE NATIONAL ASSEMBLY ------- No. 52/2010/QH12 | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness --------- Hanoi, November 10, 2010 |
RESOLUTION
ON THE 2011 STATE BUDGET ESTIMATE
THE NATIONAL ASSEMBLY OF THE SOCIALIST REPUBLIC OF VIETNAM
Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10;
Pursuant to the State Budget Law;
After considering the Government's Report No. 16/BC-CP of October 15, 2010, on the 2011 slate budget estimate, submitted to the National Assembly; the Finance and Budget Committees Verification Report No. 1634/BC-UBTCNS12 of October 18, 2010; the National Assembly Standing Committee's Report No. 387/BC-UBTVQ1112 of November 9, 2010, on assimilation of opinions and explanations on the 2011 slate budget estimate, and opinions of National Assembly deputies,
Pursuant to the State Budget Law;
After considering the Government's Report No. 16/BC-CP of October 15, 2010, on the 2011 slate budget estimate, submitted to the National Assembly; the Finance and Budget Committees Verification Report No. 1634/BC-UBTCNS12 of October 18, 2010; the National Assembly Standing Committee's Report No. 387/BC-UBTVQ1112 of November 9, 2010, on assimilation of opinions and explanations on the 2011 slate budget estimate, and opinions of National Assembly deputies,
RESOLVES:
Article 1. To pass the 2011 state budget estimate
The total state budget revenue will be VND 595,000 billion (five hundred ninety five thousand billion dong), equivalent to 26.2% of the gross domestic product; if including VND 10,000 billion transferred from 2010 to 2011, the total state budget revenue will be VND 605,000 billion (six hundred five thousand billion dong);
The total state budget expenditure will be VND 725,600 billion (seven hundred twenty five thousand six hundred billion dong);
The state budget deficit will be VND 120,600 billion (one hundred twenty thousand six hundred billion dong), equivalent to 5.3% of the gross domestic product.
(see attached appendices No. 1, 2, 3, 4 and 5)
Article 2. To agree with solutions for implementing the 2011 state budget estimate submitted by the Government and proposed by the Finance and Budget Committee in the verification report, while stressing the following central solutions:
1. To implement the fiscal policy prudently, and strictly control slate budget revenues and expenditures. In the course of administering the state budget, to adopt measures to reduce its deficit in 2011 to below VND 120,600 billion, equivalent to 5.3% of the gross domestic product, and to lower levels in subsequent years. To formulate a strategy on public debt management through 2020, with a vision towards 2030, aiming to assure national financial security. To closely and synchronously combine fiscal, monetary and other policies in order to contribute to effectively achieving the 2011 socio-economic objectives.
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