National Assembly approves budget targets for 2020
  • | | November 14, 2019 09:28 PM
The National Assembly on Thursday passed a central state budget allocation resolution for next year, including a budget expenditure of around VND1.1 quadrillion (USD47.8 billion).

Of the figure, VND367.9 trillion (USD16 billion) would be used to subsidise local budgets.

The National Assembly also agreed on a trade deficit of VND234 trillion (USD10.2 billion) for 2020, accounting for around 3.44% of the national GDP in the year.

Localities nationwide are urged to allocate the state budget to prioritised areas.

Earlier, the National Assembly set a GDP growth target of 6.8% and CPI growth of below 4% next year.

State budget revenues are expected to reach VND1.31 quadrillion (USD58.3 billion) this year. Meanwhile, total state budget expenditure for the year would reach VND1.52 quadrillion.

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