27tr dong for raising minimum salary from May

Ministry of Finance announced it started to budget 27 trillion dong to raise the minimum salary from 730,000 dong to 830,000 dong per month starting from May 1.

The spending is estimated to account for 3.7% of total state budgetary spending in the whole year 2011.

The minimum salary increase is implemented from May 1, two months after electricity and petrol prices were adjusted up.

In 2011, the budget spending is estimated at 725.6 trillion dong, of which 152 trillion dong is for investment development, 86 trillion dong for debt and ODA payment, 442.1 trillion dong on regular expenditure items.

Regarding regular allocations, Ministry of Finance said, 27 trillion dong will be used to raise minimum salary from this May 1.

Also, the subsidization of policy goods prices is 1.660 trillion dong, 74.5 trillion dong spent on pension and social security, and 110.13 trillion dong on education and training.

The state budgetary revenues in 2011 are targeted at 595 trillion dong, up 12.7% against the actualized level of 2010. In which, the domestic revenues (excluding revenues from land use estimated at 30 trillion dong) is expected to rise 19.3% to 352 trillion dong.

Budget revenues from crude oil may reach 69.3 trillion dong.

Tags: Vietnam minimum salary