National Assembly approves budget targets for 2020
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.
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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