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Government tightens purse strings in 2016

Update: February, 15/2016 - 10:00
The Prime Minister has approved the Government's overall programme to practice thrift and avoid wasteful expenditure in 2016. — Illustratrive Image chinhphu.vn

HA NOI (VNS) — The Prime Minister has approved the Government's overall programme to practice thrift and avoid wasteful expenditure in 2016.

The programme is one of the key tasks in 2016, the first year in which the resolution of the 12th National Party Congress and the socio-economic development plan for the 2016-20 period will be carried out.

Thrift and waste prevention measures will be implemented in all sectors by tightening management, and avoiding state budget spending on impractical scientific research and inefficient projects.

These measures are expected to save 10 per cent of the regular spending, contributing to reform in people's salaries, and reduce at least 12 per cent of the expenditure on conferences, meetings and daily activities.

Additionally, state-owned enterprises need to reform and exercise self-control in tasks, human resources and finance, based on different services, market demand and management levels.

The authorities will tightly supervise to enhance the quality of basic constructions, and strive to save 10 to 15 per cent of the investment capital.

The government will cut out all projects that are not part of programmes or have not been approved, and will stop loans in basic construction.

The programme will also block all groundbreaking and inauguration ceremonies of basic constructions, excep those of great value for the socio-economic development of localities. — VNS

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