Saving recurrent expenditures, cuts down on unnecessary expenditures

VCN - The Ministry of Finance has strictly managed state budget spending, and thoroughly saved recurrent expenditures from the year’s estimation and during the implementation process.
Recurrent expenditures via State Treasury strictly controlled Recurrent expenditures via State Treasury strictly controlled
Control public debt more effectively and safely Control public debt more effectively and safely
In 2017, the control of recurrent expenditures accounts for 91.3% of the year’s estimate In 2017, the control of recurrent expenditures accounts for 91.3% of the year’s estimate
The Ministry of Finance has strictly managed state budget spending. Photo: Thuy Linh
The Ministry of Finance has strictly managed state budget spending. Photo: Thuy Linh

Thoroughly saving expenditures

The report on thrift and waste combat of the Ministry of Finance said that, following Resolution 43/2022/QH15 of the National Assembly and Resolution 11/NQ-CP of the Government, the Ministry of Finance has implemented assigned tasks, proposed and submitted to competent authorities for promulgation and implementation policies on state budget collection and spending to support the socio-economic recovery and development program.

In addition, the management of fiscal policy has been proactively, flexibly and prudently conducted, policies on exemption, reduction and extension of taxes, fees, charges and budget revenues, budget expenditures to remove difficulties for businesses and people affected by the pandemic have been issued in a timely manner, promoting economic recovery to ensure social security and stabilize people's lives.

Facing complicated developments in the world petroleum market, surging petroleum prices, putting pressure on inflation, production and business activities of enterprises and people's lives, the Ministry of Finance reported to the Government to submit to the National Assembly Standing Committee for issuing Resolution 18/2022/UBTVQH15 to reduce the green tax for gasoline, oil and grease and Resolution 20/2022/ UBTVQH15 of the National Assembly Standing Committee on green tax for petrol, oil and grease, effective from July 11, 2022 (replacing Resolution 18/2022/UBTVQH15).

Furthermore, to ensure funds for the Socio-economic Recovery and Development Program, the Ministry of Finance has reported to the Government to submit to the National Assembly Standing Committee for a decision on the plan to use the additional revenue, savings, cuts and the remaining funds of the central budget in 2021. Of which, VND6,840 billion has been added for socio-economic recovery and development.

The Ministry of Finance has also requested ministries, central agencies and local agencies to thoroughly save recurrent expenditures; review unnecessary spending tasks and resolutely cut down the central budget expenditures that have been allocated in the estimate at the beginning of the year but have not been allocated by June 30, 2022 (except for special cases decided by the Prime Minister) to add funds for the program.

Moreover, the Ministry of Finance has submitted to the National Assembly Standing Committee to transfer VND15.6 trillion of the remaining funds of the central budget in 2021 to 2022 to buy Covid-19 vaccines and spend on pandemic prevention and control (VND8.6 trillion). As of July, the state budget spent about VND9 trillion for pandemic prevention and control and support to people and workers in difficulty, of which: about VND3.3 trillion for pandemic prevention and control, VND5.7 trillion for supporting people and employees (including VND109 billion to support rent for employees).

Strictly control spending

The Ministry of Finance has strictly managed state budget spending, thoroughly saved regular expenditures from the year’s estimation and during the implementation process, associated with apparatus restructuring, personnel streamlining, and renovation of the public service delivery sector. The spending work has been conducted according to the estimate, meeting the needs of socio-economic development, national defense and security, state management, social security spending tasks and taking care of pension and social allowance beneficiaries from the state budget.

The State Treasury system has strengthened the control of spending in accordance with the policies and regimes, creating favorable conditions for state budget-using units and investors.

Also, the State Treasury has proactively managed and used the state budget, ensuring safety, efficiency, and promptly meeting the spending needs of budgets at all levels and depositors at the State Treasury.

Through the spending control, in July 2022, the State Treasury system requested the state budget-using units to complete and supplement payment records in accordance with regulations of 65,973 expenditures with a total amount of VND9,751 billion. From the beginning of the year to July 15, 2022, the State Treasury system requested state budget-using units to complete and supplement payment records in accordance with regulations of 598,387 expenditures with a total amount of VND76,554 billion; actually refused to pay 3,451 expenditures with a total amount of VND270 billion.

The Ministry of Finance will strengthen the guidance and direction on thrift and waste combat in ministries, central and local agencies; develop plans to realize goals and targets of saving in each field; proactively manage State budget estimates in compliance with the financial and budget discipline; continue to reform the control of state budget spending toward a unified process and a centralized control and payment unit.

In 2017, the control of recurrent expenditures accounts for 91.3% of the year’s estimate In 2017, the control of recurrent expenditures accounts for 91.3% of the year’s estimate

This information was stated by Mr. Nguyen Quang Vinh, Deputy Director of State Treasury at the Conference ...

The Ministry of Finance will also strengthen the application of information technology in the control of expenditures and management of revenues; continue to reform the management method of recurrent spending, increasing bidding, ordering and contracting of funds, encouraging decentralization and granting autonomy to the state budget using units in association with strengthening responsibilities of ministries, agencies, localities and units using the state budget, individualizing individual responsibilities in the management and use of the state budget and public financial resources.

By Thuy Linh/ Huyen Trang

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