(VOVworld) - Legislators approved a resolution on the five-year financial plan during the ongoing second meeting of the 14th National Assembly on Wednesday.

The resolution aims to strengthen financial discipline and prudence to strictly control the budget deficit and public debt. Total State budget collection for 2016-2020 is expected to be more than 308 billion USD, representing a 1.65 fold increase against 2011-2015. The development expenditures will make up 25-26 percent and regular expenditures, below 64 percent. The resolution also aims to ensure the safety of public debt by minimizing government guarantees on new loans, not spending the state budget on state owned enterprise restructuring while new borrowings must go through a comprehensive impact assessment on public debt.