Salary increase from 1.7 must pay special attention to price control and inflation

Deputy Prime Minister Le Minh Khai emphasized that this salary increase must pay special attention to controlling prices and the consumer price index (CPI). In particular, the possibility of CPI increasing by about 0.77% is mainly due to psychology.

Salary increase, CPI likely to increase by about 0.77% On the afternoon of June 26, the National Assembly discussed in the hall about salary reform; adjusting pensions, social insurance benefits, preferential benefits for people with meritorious services and social allowances from July 1, 2024. At the end of the discussion session, Deputy Prime Minister Le Minh Khai explained and clarified a number of issues raised by National Assembly deputies. According to the Deputy Prime Minister, the deputies basically agreed with the Government's report, recommendations on salary reform, social insurance benefits, policies for people with meritorious services and social allowances from July 1, 2024. At the same time, the deputies also raised a number of limitations and difficulties in the past time and especially solutions in the coming time with many valid opinions. According to the Deputy Prime Minister, the Government has directed the Ministry of Home Affairs to issue report No. 3668 issued on June 26 to the National Assembly deputies to explain the contents related to salary policy reform. The deputies have proposed a number of solutions to implement Resolution No. 27-NQ/TW, resolutions of the National Assembly and the Government on salary reform. In particular, this salary increase must pay attention to controlling prices and the consumer price index (CPI). The Government assesses that the salary increase is likely to increase the CPI by about 0.77%. "The CPI increase is mainly due to psychology, and there is also demand due to salary increase but not high. At the same time, the supply and demand of goods are also met, especially essential goods," the Deputy Prime Minister emphasized, adding that propaganda work is also very important. According to the Deputy Prime Minister, right from the preparation stage, the Government has given instructions, especially the Price Management Steering Committee, and the Prime Minister has issued a telegram directing this issue. Taking into account the opinions of the National Assembly deputies, the Government will continue to direct more strongly and hopes that the National Assembly deputies will continue to pay attention to contributing to the Government in general direction and management as well as this content. The Government requests the Ministry of Home Affairs to take into account and propose to the Government to form truly feasible solutions and thoroughly implement them.

Afternoon session on June 26. Photo: Pham Dong

More than 900,000 billion VND to increase basic salary and pension Regarding the adjustment of basic salary to increase by 30%, implementing a bonus of 10% of the basic salary fund, adjusting pensions and allowances from July 1, the Government's report stated that the total implementation cost in 3 years (2024-2026) will increase by 913,000 billion VND. 5 sources of funding to implement the salary regime, including: From increased revenue and surplus funds of localities allocated for salary reform in previous years; From the central budget; From a part of career revenue; From 10% of savings to increase regular expenditure; From the source from streamlining the payroll. Regarding this issue, Minister of Home Affairs Pham Thi Thanh Tra said that the total implementation cost is very large. Initially, with an average increase of 20% in basic salary, the total cost in 3 years is about 760,000 billion VND. When the Government proposed to adjust the basic salary by 30% and the bonus by 10% and related policies, the total budget amounted to VND913,300 billion, an increase of VND127,000 billion compared to the plan reported to the National Assembly at the 6th session. Regarding the source for implementing salary reform and related policies, Minister of Home Affairs Pham Thi Thanh Tra affirmed: "The Government can ensure this source". To date, the Government has accumulated VND680,000 billion. In 2 years (2025-2026), with positive signals from the economy and solutions to increase revenue, it is expected to ensure the source of funds to implement the entire program. From now until 2026, the Minister of Home Affairs said that in the coming period, there must be very drastic and specific solutions to save expenses and increase revenue, and at the same time report to competent authorities to supplement Resolution 27 for implementation in the next phase. Source: https://laodong.vn/thoi-su/tang-luong-tu-17-phai-dac-biet-quan-tam-kiem-soat-gia-lam-phat-1358019.ldo