Vietnam rises 11 places in budget transparency ranking

All pillars are higher than the global average and have increased in score compared to 2021

Efforts to increase budget transparency

The 2023 OBS Ranking results show that all pillars are higher than the global average and have increased in score compared to 2021. Accordingly, the Budget Transparency pillar reached 51 out of 100 points (the global average is 45 out of 100 points, an increase of 7 points compared to 2021); the Public Participation pillar reached 19 out of 100 points (the global average is 15 out of 100 points, an increase of 2 points compared to 2021); the Budget Oversight pillar reached 82 out of 100 points (the global average is 62/100 points, an increase of 2 points compared to 2021).

This is the result of Vietnam's determination and efforts to strengthen budget transparency through the availability of budget documents and the full, accurate and timely disclosure of information throughout the budget process, from the preparation of estimates for submission to the National Assembly, the estimates approved by the National Assembly, the implementation status during the year, the settlement approved by the National Assembly.

The content and form of disclosure are also implemented in a diversified way. In addition to publicly disclosing detailed State budget templates and figures, management agencies also publicly disclose detailed explanatory reports, budget reports for citizens designed in the form of charts and graphs, posted on the Ministry of Finance's electronic portal, the Budget Disclosure Portal, printed publications,... in order to disseminate budget information to as many people as possible, creating favorable conditions for people to easily grasp information about the budget.

It is noteworthy that in Vietnam's OBS 2023 results, there are 3 documents achieves high scores, including: The Budget Report for Citizens (maximum score of 100 out of 100 points); The State Budget Estimate decided by the National Assembly (score of 83 out of 100 points); The Report on the Implementation of the State Budget in the Year (score of 78 out of 100 points).

Propose amendments and supplements to regulations in accordance with Vietnamese practice and well meet international practices

To achieve this result, the Ministry of Finance has implemented a mechanism to collect direct public comments on the draft State Budget estimate submitted to the National Assembly and to develop a citizen's budget report on this document before the National Assembly decides on the State Budget estimate.

The State Budget estimate after being decided by the National Assembly and during the management process of State Budget estimate in the year are all publicly disclosed in a timely, and accurate manner, accompanied by a budget report for citizens so that people have full information to supervise the budget.

Currently, the Ministry of Finance is organizing surveys to assess the implementation of local budget disclosure in accordance with the provisions of the 2015 State Budget Law, to promptly grasp the difficulties and obstacles and suggestions and recommendations of local governments, as well as the needs and aspirations of people about budget information to have a basis for advising and proposing amendments and supplements to the regulations on budget disclosure in accordance with Vietnamese realities and better meet international practices.