The State Treasury refuses to pay over VND 60 billion for recurrent expenditure

VCN- According to the report from State Treasury, as of 31st January 2018, through the State expenditure control, units under the State Treasury discovered that 20,205 expenditures were ineligible. They were requested to supplement essential procedures and refused the payment of VND 60.1 billion.
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the state treasury refuses to pay over vnd 60 billion for recurrent expenditure
Operation at the State Treasury of Ba Ria –Vung Tau. Photo: H.G

As of 31st January 2018, the State Treasury system implemented the expenditure control reaching VND 846,517 billion (excluding expenditure for debt repayment, aid, additional financial reserve and reserve fund) equivalent to 93.8% of the estimate; the disbursement was higher in absolute terms but lower than the relative number over the same period last year (disbursed recurrent expenditure as of 31st January 2017 was VND 792,125 billion, reaching 94.6% compared to the estimate 2016).

For capital construction investment expenditure, the estimate for the fiscal year 2017 (until the end of 31st October 2018) and the accumulated investment capital disbursed via State Treasury was VND 304,645.2 billion, equivalent to 87.9 % of the year plan, lower than the same period in 2016.

Of which, the capital resource assigned by the Government was estimated at VND 276,451.1 billion, reaching 88.2% of the plan (including capital construction investment was VND 250,715.1 billion, reaching 92.7% of the plan; the Government bond was VND 14,814 billion, reaching 47.8% of the plan; capital resource for target program and national target program was VND 10,922.7 billion, reaching 93.1%); other capital resource was estimated at VND 28,193.4 billion, reaching 84.9% of the plan. Through the control of capital investment payment, the State Treasury system refused to pay about VND 105 billion.

the state treasury refuses to pay over vnd 60 billion for recurrent expenditure State treasury raises VND5.9 trillion from government bonds

The State treasury has successfully raised VND5.9 trillion (US$260 million) for the State budget through an auction ...

Hence, in the fiscal year 2017, the State Treasury units refused VND 165.1 billion (including recurrent expenditure and expenditure for capital construction investment).

Also, in January 2018, the State Treasury held 4 Government bond auction sessions through the Hanoi Stock Exchange and mobilized VND 16,555 billion for the State budget and development investment. As of 25th January 2018, the State Treasury mobilized VND 16,555 billion from Government bonds. It held an auction session on 31st January 2018, where the bidding volume was VND 3,000 billion divided into 20 year and 30 year terms.

By Huong Giang/Ngoc Loan

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