Vietnam Lawmakers Adopt State Budget Estimates for 2011

The National Assembly, Vietnam’s top legislative body, yesterday approved central state budget estimates for next year, with VND398.679 trillion in total revenues and VND519.279 trillion in total spending.

 

The country’s state budget deficit is predicted at VND120.6 trillion in 2011, according to a resolution on State budget estimates for 2011.

 

Of the spending, the development investments for 2011 will account for VND78.8 trillion, including VND66.42 trillion for infrastructure constructions, VND3.5 trillion for petroleum projects, VND2.3 trillion for East Sea programs and sea guarding, and VND4.5 trillion for interest rate offsets for preferential credits.

 

As planned, the state will set aside VND86 trillion of 2011 budget for debt payment and assistances next year, compared to VND70.25 trillion this year.

 

State spending for education and training is estimated at VND22.6 trillion; healthcare VND10.2 trillion; science and technology VND4.87 trillion; pensions and social welfares VND59.45 trillion; environmental protection VND1.1 trillion, and administrative management VND23.86 trillion.

 

In 2011, the Government will be allocated with VND27 trillion to increase the monthly minimum wage for state employees and pensions as well. The figure was VND22.090 trillion last year. (VnExpress)