November 11, 2023 | 07:15 GMT+7

NA approves salary reform policy

Nhĩ Anh -

Salary reform to begin from July 1, 2024.

The National Assembly (NA) has decided to carry out salary reform from July 1, 2024 as part of a resolution on the State budget estimates for next year.

The resolution was adopted by NA deputies at their session on November 10.

Pensions and allowances will be adjusted in line with the base salary for individuals who have rendered meritorious services to the country.

From July 1, 2023, the base salary was adjusted from VND1.49 million ($61) to VND1.8 million ($73.7) a month, an increase of 20.8 per cent.

According to the resolution, the NA assigns the government to administer fiscal policy in a proactive, reasonable, flexible, and effective manner; harmoniously coordinate this policy with monetary policy and others; ensure a timely response to complex developments in the domestic and international situations to maintain macro-economic stability, control inflation, boost growth, and guarantee major economic balances; and, especially, take measures to address the decline in funds mobilized from different sources for the State budget.

The government also needs to tighten discipline and enhance the sense of responsibility among agencies and localities’ leaders towards finance and budget management and use; spend State budget funds as planned in a thrifty and effective manner; minimize unnecessary expenditures to reserve resources for disaster and epidemic responses; and supplement funding for development investment and economic recovery.

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