Government to cut regular expenditures by 10% in 2016
According to a programme to avoid wasteful expenditures in 2016 approved by the Prime Minister, one of the key measures to be taken is tightening management of public spending and cutting regular expenditures by at least 10%.
To avoid wasteful expenditures in 2016, the Prime Minister recently approved a Government programme that is a main task for 2016, the start of the 12th National Party Congress' resolution and socio-economic development plan for 2016-2020 period.
The Government instructes ministries and state agencies to tighten management of public spending and cut regular expenditures by at least 10%, as well as cut spending on conferences, meetings, utilities and visits.
Ministries and state agencies are required to avoid State spending on impractical scientific research and inefficient projects.
Under the programme, the reform of financial mechanisms for State-run agencies will be continued in the direction of enhancing their self-control in personnel and handling finances, based on different services, market demand and management levels.
The Government will accelerate the roadmap of adjusting public services and shift from supporting state agencies to supporting welfare beneficiaries when using public services.
Related agencies and administrations at all levels are asked to strictly adhere to the law on public investment and submit to the National Assembly mid-term investment plans for 2016-2020.
Authorities will intensify inspections and monitoring of all phases in the investment process and implement measures to ensure transparency in bidding procedures.
The programme will also stop all groundbreaking and inauguration ceremonies for capital construction projects except for key national projects and those of significance to localities.
The Government will cut out all projects that are not listed in approved plans and will stop projects which are unnecessary or inefficient.
The Government instructes ministries and state agencies to tighten management of public spending and cut regular expenditures by at least 10%, as well as cut spending on conferences, meetings, utilities and visits.
Ministries and state agencies are required to avoid State spending on impractical scientific research and inefficient projects.
Illustrative image.
|
The Government will accelerate the roadmap of adjusting public services and shift from supporting state agencies to supporting welfare beneficiaries when using public services.
Related agencies and administrations at all levels are asked to strictly adhere to the law on public investment and submit to the National Assembly mid-term investment plans for 2016-2020.
Authorities will intensify inspections and monitoring of all phases in the investment process and implement measures to ensure transparency in bidding procedures.
The programme will also stop all groundbreaking and inauguration ceremonies for capital construction projects except for key national projects and those of significance to localities.
The Government will cut out all projects that are not listed in approved plans and will stop projects which are unnecessary or inefficient.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
- IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
- Vietnam's credit growth up 10% in 10 months
- Building Hanoi's smart city with smart banking
- Vietnam stock market clears major legal hurdle to potential upgrade
- Cashless parking in Hanoi: Good model fuels smart transport