Legislature approves 2020 budget overspending at over $10 billion

State budget overspending would be over $10 billion, equivalent to 3.44% of the country's GDP including $9.6 billion of central budget overspending and $747 million of local budget overspending.

Total loan of state budget would be over $21.5 billion. Total budget collection would be $66.5 billion.

The NA also approved of capital structure adjustments of medium-term investment plan in the 2016-2020 period and two national target programs.

The legislature tasked the Government to regulate the fiscal policies in a close, efficient, and transparent manner; flexibly and synchronously work with monetary policies to stabilize the macro-economy; control inflation; tighten disciplines; and raise responsibilities of leaders in budget management and spending.

The Government was tasked to take drastic steps in managing state budget collection; restructuring revenues; reduce tax debts; expand e-invoices; and strive for financial plans in the 2016-2020 period.

Photo: chinhphu.vn

Source: VGP