Starting from July 1st, the Law on National Reserves officially takes effect. This Law stipulates the formation, management, use of national reserves and state management of national reserves.
Notably, this Law dedicates 1 Chapter to the State budget for national reserves.
Accordingly, the state budget for national reserve expenditure under the expenditure tasks of the central budget is implemented according to the provisions of the State Budget Law and is allocated in the annual state budget estimate.
Based on the estimate of national reserve expenditure and the assigned national reserve plan, Ministries, ministerial-level agencies, and provincial-level People's Committees manage national reserves and strategic reserves and assign estimates and plans to units implementing national reserves within their management scope according to the provisions of law.
The estimated expenditure of national reserves in the budget year of the Ministry, ministerial-level agencies, and provincial-level People's Committees managing national reserves and strategic reserves that have been temporarily advanced or not fully used, including the money from the sale of national reserves and strategic reserves transferred from sources simultaneously with the transfer of the national reserve plan to the following year for implementation and accounting for finalization into the next year's budget.
The Minister of Finance stipulates norms for import and export costs at warehouse gates and preservation costs for national reserves and strategic reserves based on economic and technical norms for import, export, and preservation of national reserves and strategic reserves to serve as a basis for building annual national reserve expenditure estimates.
Regarding the state budget for development investment for national reserves, the Law stipulates that the state budget for development investment for national reserves of Ministries, ministerial-level agencies, and provincial-level People's Committees managing national reserves and strategic reserves is arranged according to the provisions of law on public investment.
Ministries, ministerial-level agencies, and provincial-level People's Committees managing national reserves and strategic reserves are responsible for managing and using investment capital in accordance with the law.
The law also stipulates that the state budget is spent on national reserve management activities.
In which, the state budget expenditure for national reserve management activities includes expenditure for the operation of the management apparatus; expenditure for research, application of scientific advances and preservation technology.
At the same time, expenditure on information technology application, innovation and digital transformation; expenditure on international cooperation on national reserves; expenditure on training and fostering people working in national reserves and other expenditures according to the provisions of law.
State budget expenditure for national reserve management activities of Ministries, ministerial-level agencies, provincial-level People's Committees, and units implementing national reserves is implemented according to estimates and current financial and budget management regimes.
