On April 8, the National Assembly Standing Committee held an extraordinary session to comment on a policy package of VND 62,000 billion to support people facing difficulties due to Covid-19.

Ms. Nguyen Thi Kim Ngan chaired the meeting to discuss the Government’s support package on April 8.

National Assembly Chairwoman Nguyen Thi Kim Ngan assessed that direct support for such vulnerable people would `bring peace of mind to people, resolving their difficulties and hardships in life`.

But she noted, after issuing the policy, all levels and sectors must immediately implement it, ensuring timely support.

Avoiding policy profiteering is also noted in the examination report of the Finance and Budget Committee.

`The principle of supporting subjects must be those who have suffered a deep reduction in income, lost or are underemployed, and cannot ensure the minimum standard of living due to the direct impact of the epidemic,` Mr. Hai noted.

In addition, the Government needs to carefully evaluate budget resources to ensure macroeconomic balance.

According to the Government’s proposal, in the 62,000 billion package, the state budget directly supports 36,000 billion VND, including 19,000-20,000 billion VND from increased revenue, the remaining source for 2019 from the central budget;

Indirect support will come from sources that allow businesses and workers to stop paying into retirement and death funds;

The Finance and Budget Committee said it was `basically in agreement and that using part of the central budget’s revenue increase and expenditure savings is `in accordance with authority`.

But the sources of revenue increase and cost savings of the local budget are decided by the Standing Committee of the People’s Council, not under the authority of the National Assembly Standing Committee.

Regarding indirect supports, according to Mr. Nguyen Duc Hai, this is a different application than the current law, so it needs to be submitted to the National Assembly.

However, facing the urgency to support vulnerable people facing difficulties due to the pandemic, the Finance and Budget Committee proposed that the National Assembly Standing Committee allow the use of 20,000 billion VND from the revenue increase source, the remaining source of the year.

Adding more information on the source of excess budget revenue, Minister of Finance Dinh Tien Dung said that the source of excess revenue from the Central Budget and remaining budget in 2019 is about 55,000 billion VND, of which 32,200 billion exceeds Central budget revenue and

He said that after dedicating resources for salary reform, excess revenue bonuses, and compensating for revenue shortfalls for some localities, about VND 34,000 billion can be spent to prevent and combat Covid-19 and compensate for the lack of central budget revenue this year.

Concluding the meeting, Vice Chairman Phung Quoc Hien affirmed that the National Assembly Standing Committee agreed with the Government’s proposal on the 62,000 billion package.

`Identifying and supporting near-poor and self-employed households should be assigned to localities on the basis of their resources and reality to balance themselves. Credit policy needs to consider lending without resources.