FROM MAY, 2016, INCREASE OF 5% OF BASIC PAYS FOR CADRES, OFFICIALS AND CIVIL SERVANTS
At the Resolution No. 99/2015/QH13 passed by on November 11, 2015 on State budget estimates in 2016, the National Assembly agreed that since May 01, 2016, adjustments shall be made from current VND 1,150,000 to VND 1,210,000 (an increase of 5%) in basic pays for cadres, officials and civil servants, armed forces who have wage coefficient from 2.34 and below to ensure their incomes are not less than current levels; keep unchanged for pensions, benefits to persons meritorious to the Revolution; assign ministries, sectors and localities to be self-sufficient in extra pay (an amount in addition to an usual pay) on the basis of assigned state budget estimates; Central budget shall support part of the extra pay for a number of poor localities according to regulations of the Government.
Besides, from January 01, 2016, make adjustments to pensions, compensations for loss of capacity for work that are below VND 2,000,000/month and allowances for kindergarten teachers who have worked before 1995 to be equal to basic pays.
Accordingly, the issue VND 60,000 billion worth of Government bonds for investment in the projects using Government bonds as decided by the National Assembly; use VND 40,000 billion from sales of state-owned shares at a number of enterprises for development investment; If the central budget in 2015 is in deficit, permit use of no more than VND 10,000 billion from sales of state-owned shares for balancing and meeting development investment expenditures; Include VND 30,000 billion in state budget estimates in 2016 to increase development investment expenditures; Implement issuance of Government bonds to international markets to re-structure government debts on the basis of comparison, analysis and assurance of national interests within 2015 and 2016 with a total maximum amount being US$ 3,000 million….
