Vietnam Approves State Budget Allocation for 2005

Vietnam's National Assembly approved a resolution on November 11, 2004 on the State budget allocation for 2005 for central state bodies and localities. It was the second year the country's legislature has taken over the task.

Under the resolution, total central budget revenues were forecast at VND128.496 trillion (US$8.18 billion) with contributions from 15 out of 64 existing cities and provinces. Total local budget revenues were estimated at VND60.504 trillion (US$3.85 billion), accounting for 32 per cent of total proceeds for state budget in 2005.

The NA approved total central state budget spending at VND169.246 trillion (US$10.78 billion), accounting for 73.7 per cent of total state budget expenditures while local state budget spending (excluding allocation from the central state budget) at VND60.504 trillion (US$3.85 billion), making up 26.3 per cent.

• L.D