Saturday, December 10 2016

VietNamNews

Gov’t drafts plan to promote thrift

Update: November, 15/2016 - 10:45

HÀ NỘI — The Ministry of Finance has drafted the overall programme combating waste and promoting thrift from 2016 – 2020 period. The draft comes under the direction of Prime Minister Nguyễn Xuân Phúc, with specific saving targets in using State budget.

The main task of the programme is to continue implementing an overall scheme of economic restructuring associated with innovative growth models and other restructuring projects of sectors in improvement of productivity, quality and efficiency, according to the programme.

It includes restructuring State budget spending towards more savings, effectiveness, monetary policy to ensure and macroeconomic stability.

In addition, the draft also aims to manage State budget plans proactively and tightly to ensure collection and spending, striving to increase budget revenues while saving budget spending and mobilising other resources for State revenue, reaching average 20-21 per cent of the GDP.

State budget collection and spending must echoe the set plan.

The draft also looks to control the State budget deficit, striving to keep surplus spending below 4 per cent of GDP.

It sets specific saving targets for some sectors that require larger budgets, which are also the hot spots using the State budget inefficiently, including science and technology, health care, education and training.

Spending on expensive equipment and facilities will be saved to prepare resources for salary reforms, as will expenditures for scientific research.

Investment will be made transparently and based on research outcomes.

State agencies are encouraged to implement the autonomy mechanism. In addition, the adjustment of public services will be sped up as part of a plan to give direct support to social policy beneficiaries instead of through State agencies. – VNS

 

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