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Roadmap to shorten the process and duration for annual state budget settlement

The National Assembly (NA)’s Finance and Budget Committee, with Konrad-Adenauer-Stiftung Vietnam support, organized a workshop on the roadmap for shortening the process and duration of the State final accounts approval. The goal of shortening the process from 18 months to 12 months is to improve the effectiveness of management and use of State budget and increase the responsibility and accountability of the State-budget spending units, said Madam Nguyen Thi Phu Ha, the committee’s Vice-chairwoman and workshop moderator.

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The existing lengthy State budget settlement fails to timely provide overall picture of the reality of State revenue and expenditure. It even reduces the role and significance of estimating and managing State budget of the following year, Madam Nguyen Thi Phu Ha, the committee’s Vice-chairwoman added

High on the agenda was international experiences in approving State final accounts and implications for Vietnam. The speakers suggested that Vietnam should focus on enhancing:

  • Budget discipline, especially the discipline of budget estimates at all levels and submitting final account reports
  • Compliance with approved budget estimates
  • Responsibilities and accountability of State budget-using units at all levels
  • IT application and digitalization in preparing and approving State final accounts

Besides, cost benefit of the cutting-down process should be calculated carefully to evaluate the necessity and efficiency of the new process before it is applied, according to Dr. Vu Sy Cuong, the speaker from Academy of Finance.

Taking place on April 23 in Da Lat City the event attracted NA deputies, representatives of Ministry of Finance, State treasury, Government Inspector, State Audit, peoples’ committees in the Southern and Central Highland.

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Pham Thi To Hang

Pham Hang

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