Priority Order in the Temporary Use of State Funds

00:51, 11/07/2024

This is the notable content stipulated in Decree 24/2016/ND-CP concerning policies regulating the management of state funds.

According to Decree 24/2016/ND-CP, temporarily idle state funds shall be used in the following order of priority:

- Advance for the central budget.- Advance for the provincial budget.- Term deposits of temporarily idle state funds at commercial banks.- Repurchase agreements of the Government of Vietnam bonds.

Also according to Decree 24/2016/ND-CP, the use of temporarily idle state funds is executed within the following terms:

- A maximum of not more than 01 year for the use of temporarily idle state funds to advance the central and provincial budgets. In cases where the central or provincial budget faces difficulties, the advance can be extended for a maximum period of no more than 01 year.- A maximum of no more than 03 months for the use of temporarily idle state funds as stipulated in Points c and d, Clause 1, Article 7 of Decree 24/2016/ND-CP.

More details can be found in Decree 24/2016/ND-CP effective from January 01, 2017.

- Thanh Lam -

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