(VOVworld)- The Finance and State Budget Committee of the National Assembly on Wednesday presented an appraisal report on the budget estimate implementation for this year, as well as estimate and allocation for next year.

Head of the Committee Phung Quoc Hien says the Committee agreed to raise the budget overspend level from 4.8% of GDP to 5.3%, which is equivalent to 224 trillion VND: “The Finance and State Budget Committee agrees that this level of overspending doesn’t match with the roadmap of budget overspend reduction that the National Assembly approved, but due to difficulties facing the budget collection and increasing demands for spending, we cannot reduce budget overspending next year. To ensure state budget balance and allocation, most of the members of our Committee agreed to raise the budget overspend in 2014 to 5.3% of GDP for development investment and the paying of debts”.

The Committee asked the Government to make detailed plans to pay debts and clarify the public debt issue before the National Assembly.

On the same day, the Government presented a report on 3 years of implementing the National Target Program up until 2015. According to the Minister of Planning and Investment Bui Quang Vinh, in recent years, total state funding and ODA capital for national target programs reached 80 trillion VND. These programs contributed to ensuring social welfare, reducing poverty in remote and mountainous regions and implementing Party resolutions on agriculture, farmers and rural development.

According to the report, the Government proposes to reduce national target programs after 2015 but continue those in new rural development areas, poverty reduction and environmental protection. The government also presented a plan on bond issuance for the 2014-2016 period.