Ho Chi Minh City proposes to continue keeping the budget retention ratio at 21% until the end of 2025.

Ho Chi Minh City People's Committee said it will continue to propose retaining 21% of the budget until the end of 2025 and keeping it at no lower level in the following years.

According to the Ho Chi Minh City People's Committee, from 2022 to the end of 2025, the city budget adjustment rate will be 21% (an increase of 3% compared to the rate of 18% in the period 2017-2021) and will continue to be maintained at a level not lower in the following years as stipulated in Resolution No. 31-NQ/TW dated December 30, 2022. This result has contributed to creating conditions for the city to have more budget resources for socio -economic development, focusing on strategic breakthrough tasks, prioritizing investment in infrastructure development, especially key projects.

Ho Chi Minh City proposes to keep the budget regulation rate at 21% until 2025 and the following years.

Ho Chi Minh City leaders said that the city always maintains political security and ensures national defense; labor productivity is 2.8 times higher than the national average; has a high contribution to the country's economic growth (about 23% of national GDP)... With the advantage of being a special urban area, the largest in the country in terms of population and economic scale, the economic locomotive and driving force, with a spreading power in the Southern Key Economic Zone, the City contributes 27% of the national budget revenue annually and has the highest budget revenue transferred to the Central Government in the country...

The city affirms to continue to strengthen budget revenue management, ensuring correct, sufficient and timely collection of revenue sources into the state budget. At the same time, to effectively use local budget revenue in general and revenue from increasing the budget adjustment rate in particular, the city continues to direct the implementation of solutions to increase mobilization, allocation and effective use of resources for development investment expenditure; focus on disbursing public investment capital, determined to complete the public investment plan, accelerate the implementation of key projects; direct the review, synthesis, classification and development of plans and roadmaps to have solutions to handle difficulties and obstacles that have existed for many years, especially important national projects, key projects, projects using ODA capital and preferential loans from foreign donors, slow progress...

On December 30, 2022, the Politburo issued Resolution No. 31-NQ/TW, which clearly stated: "Maintain the city budget adjustment rate at the current level until the end of 2025 and continue to maintain it at a level not lower in the following years, creating conditions for the city to have additional resources for key tasks and strategic breakthroughs, invest in developing key infrastructure projects and improve people's welfare, increase income for cadres, civil servants, public employees and workers".

Ho Chi Minh City leaders affirmed that they will ensure effective and economical spending of the state budget in accordance with the estimates assigned by competent authorities, focusing on thoroughly saving regular expenses, especially public procurement, domestic and international business trips, use of public cars, organizing conferences, seminars, research, surveys, saving electricity, gasoline, etc. to reserve resources for increased development investment spending and spending on other urgent tasks.

“As a member of the Editorial Team to develop the Project “Innovation of the management mechanism and allocation of the state budget to ensure the leading role of the central budget and the initiative of local budgets, relevant agencies and units”, Ho Chi Minh City continues to propose to maintain the city budget adjustment rate at the current level until the end of 2025 and continue to maintain it at a level not lower in the following years to create conditions for the city to have additional resources for key tasks and strategic breakthroughs, invest in developing key infrastructure projects and improve people's welfare, increase income for cadres, civil servants, public employees and workers in accordance with the policy in Resolution No. 31-NQ/TW dated December 30, 2022 of the Politburo”, the leader of Ho Chi Minh City proposed.

Source: https://thoibaonganhang.vn/tp-ho-chi-minh-de-xuat-tiep-tuc-giu-ty-lai-ngan-sach-21-den-het-nam-2025-157484.html