Ensuring smooth budget flow during lockdown

VCN - Thanks to the online public service of the State Treasury, accountants at budget-using units, even "staying in one place" to fight the pandemic, they still fulfil their duties. At the same time, the Treasury system also maintains smooth operations despite the unpredictable developments of the Covid-19 pandemic.
About VND 1,520 billion of central budget spent to support employees and employers About VND 1,520 billion of central budget spent to support employees and employers
Import and export increase - budget revenue increases but difficulties await Import and export increase - budget revenue increases but difficulties await
Identify problems, provide appropriate solutions, advise Government on finance - budget field Identify problems, provide appropriate solutions, advise Government on finance - budget field
Ensuring smooth budget flow during lockdown
The State Treasury strengthens the control of records and documents, preventing any backlog of payment records for no reason. Photo: Ha Giang State Treasury

Don't let work be at a standstill

Since the beginning of the year, the State Treasury system has continued to reform administrative procedures to better serve budget-using units.

Up to now, more than 98% of state budget expenditure transactions have been made through online public services, a sharp increase compared to the beginning of 2020. On average, there are about 150,000 transactions per day, 200,000 transactions on peak days, thereby, improving the efficiency of spending control and use of state budget capital, contributing to the whole country in preventing and repelling the Covid-19 pandemic.

Thanks to the convenience of online public services, the entire State Treasury system has paid the budget to beneficiaries, even during a strong outbreak of the pandemic, especially in localities where social distancing is required under Directive 15 and Directive 16 of the Prime Minister.

Hanoi State Treasury is one of the units allowed to operate while Hanoi applies lockdowns according to Directive 16.

To realize the "dual goal" of both disease prevention and fulfilment of tasks, the Hanoi State Treasury has requested affiliated units in the pandemic-affected area to arrange a minimum number of civil servants at the office to work as usual. Other units arrange civil servants to work from home for backup when necessary but not to obstruct the work.

For all transactions to be performed smoothly when travel is restricted, the Hanoi State Treasury requires the affiliated Treasuries to promote transactions on online public services because of the convenience and safety of this solution.

Currently, 100% of payment transactions of 6,850 budget-using units through the Hanoi State Treasury have been carried out via online public services. In addition, there are 221 non-compulsory units, but through propaganda and advocacy, have also participated in making payments through online public services.

Thanks to online public services, not only in Hanoi but also all localities across the country, accountants of budget-using units only need to sit at home to push dossiers and documents to the online public service at any time of the day to pay the Treasury without having to travel. Therefore, they still fulfil their duties even when staying in one place according to the local direction to fight the pandemic. At this time, the State Treasury also strengthened the direction of the State Treasury units to control the records and documents as soon as the budget-using units and investors send them, so as not to leave any payment records behind without reason.

Continuing to upgrade the system

Looking back at 2020, the success in online public service coverage not only at the provincial and city levels but also at the district and commune levels was a prominent mark of the State Treasury system.

Overcoming many difficulties, online public services have been deployed by the State Treasury according to the roadmap set out with the goal of "all for customers". From the end of 2020, the State Treasury system has completed connecting 100% of state budget-funding entities subject to online public service transactions at level 4; the rate of transactions of state budget spending through online public services reached 98%.

According to the evaluation of many budget-using units, participating in online public services through the Treasury has brought many benefits such as: saving travel time, reducing operating costs (stationery, printing). In addition, signing for approval and sending documents to the State Treasury with a digital signature is a measure to ensure safety and security in online transactions, against forging signatures and seals for budget-using units.

Above all, the role and meaning of online public services is clear when the country experiences risks of the pandemic and natural disasters. For example, when the Central region suffered floods in July 2020, the budget expenditure, especially the payment of social security expenditures, storm and flood prevention in the provinces of Thua Thien Hue, Quang Binh and Quang Tri were still smooth and fast thanks to the great contribution of online public services. At this time, online public services have proven an important role in ensuring the stable and smooth operation of the Treasury system when the country experiences unprecedented events due to the Covid-19 pandemic.

Up to now, although many provinces and cities are strictly implementing the Government's direction of "staying in one place" to prevent the disease from spreading on a large scale, the budget flow is not at a standstill. Budget expenditures, social security expenditures, and expenses for the prevention and control of the Covid-19 pandemic are always ensured by State Treasury units across the country without delay.

By Thuy Linh/ Binh Minh

Related News

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

VCN - The Ministry of Finance (MOF) gathers feedback on the draft Circular regulating the management and use of accounts of the State Treasury opened at the State Bank of Vietnam (SBV) and commercial banks.
Promoting the role of customs IT systems in trade development in Vietnam

Promoting the role of customs IT systems in trade development in Vietnam

VCN – Given many efforts in the reform and modernization process, the Customs sector has been assessed by the Government, ministries, agencies and the business community as the leading agency in the central ministries and agencies in implementing information technology (IT) applications, meeting management requirements and facilitating trade development in Vietnam. Customs Magazine had an interview with Associate Professor, Dr. Le Xuan Truong, Head of the Faculty of Taxation and Customs, Academy of Finance on this issue.
More sanctions needed to promote budget transparency

More sanctions needed to promote budget transparency

VCN - The positive results achieved in budget disclosure in recent times show that the legal framework on budget disclosure and transparency is quite adequate, along with the proactive participation of relevant agencies in implementing this issue. To make budget disclosure and transparency better, in the process of amending the State Budget Law, the Ministry of Finance is researching and supplementing sanctions.
State Treasury to auction VND128,000 billion of government bonds in Q4/2024

State Treasury to auction VND128,000 billion of government bonds in Q4/2024

VCN - The State Treasury (KBNN) has announced the plan to auction of VND128,000 billion of government bonds in Quarter 4, 2024, including the issuance volume for Vietnam Social Security.

Latest News

Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3.92%.
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigned by the Prime Minister.

More News

State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

VCN - According to the report sent to the National Assembly before the 8th Session of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Rush to finalize draft decree on public asset restructuring

Rush to finalize draft decree on public asset restructuring

VCN - According to the Ministry of Finance, the draft Decree regulating the rearrangement and handling of public assets is being urgently completed by the Ministry of Finance to submit to the Government for promulgation.
Inspection report on gold trading activities being complied: SBV

Inspection report on gold trading activities being complied: SBV

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

VCN -The Government estimates that state budget revenue in 2024 will exceed VND 172.3 trillion, up 10.1% over the estimate, of which tax and fee revenue will reach 13.1% of GDP.
Ensure timely and effective management and use of public asset

Ensure timely and effective management and use of public asset

VCN – In order to promptly and effectively implement public asset management and use, ensuring compliance with legal regulations, the Ministry of Finance has just issued an official dispatch requesting ministries, branches and localities to comply with regulations in the Government’s Decree No. 114/2024/ND-CP dated September 15, 2024.
Accelerating decentralization in public asset management

Accelerating decentralization in public asset management

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.
Difficulty in finding banks eligible to receive compulsory transfers

Difficulty in finding banks eligible to receive compulsory transfers

VCN - Reporting to the National Assembly, the State Bank of Vietnam (SBV) said that one of the difficulties in restructuring the credit institution system is the long process of finding and negotiating banks eligible to receive compulsory transfers.
Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
State budget revenue estimate 2025 assessed as positive level despite potential challenges

State budget revenue estimate 2025 assessed as positive level despite potential challenges

VCN – Deputy Prime Minister and Minister of Finance Ho Duc Phoc said that the state budget revenue for 2025 is estimated at VND 1,966.8 trillion, an increase of 15.6% compared to the estimate for 2024.
Read More

Your care

Latest Most read
Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigne
State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

According to the report of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Mobile Version