The National Assembly (NA) Standing Committee contributed opinions to the Government’s report on thrift practice and wastefulness prevention at its 23rd session in Hanoi on May 11.
Statistics by ministries, agencies and localities showed that some 53.88 trillion VND (2.29 billion USD) of state capital and funding was saved last year, according to the report.
As of the end of 2022, Vietnam’s public debt was estimated at 3.6 quadrillion VND, equivalent to 38% of the national gross domestic product (GDP), down from the 43.1% recorded in theprevious year.

NA Standing Committee looks into Government’s thrift practice report. Photo: Quochoi

Last year, 8.62 trillion VND was earmarked from the state budget to carry out the national target programme on sustainable poverty reduction for the 2021-2025 period, the report said.
The committee pointed out that wastefulness is still seen at different levels, particularly in budget management, public investment, public procurement, as well as land and public asset management.
NA Vice Chairman Trang Quang Phuong suggested evaluating wastefulness in the implementation of the socio-economic recovery and development programme, and the three national target programmes, covering new-style rural area building, socio-economic development in ethnic minority-inhabited areas, and sustainable poverty reduction.

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The report should highlight both achievements and shortcomings, and propose solutions for next year, he added.
Deputy Auditor General of Vietnam Doan Anh Tho noted that audit reports are needed to ensure the objective assessment of thrift practice and wastefulness prevention, and suggested the Government further clarify budget decentralisation.
In his closing remarks, NA Vice Chairman Tran Thanh Man stressed the need for the report to raise solutions in order to step up thrift practice and wastefulness prevention, and handle the sluggishness in budget allocation, and public investment disbursement, among other issues.

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Members of the National Assembly (NA)'s Standing Committee offered their opinions on a Government report on the implementation of thrift practice and wastefulness prevention in 2021.

Delivering the report on April 25, Minister of Finance Ho Duc Phoc said that last year, the Prime Minister and ministries, sectors and localities had applied comprehensive measures to facilitate resources for socio-economic development.

Despite difficulties, Vietnam recorded economic growth of 2.58 percent, while completing seven out of its 12 socio-economic targets, with State budget collection reaching 16.4 percent of the target, he said.

Particularly, the PM and the Government directed ministries, sectors and localities to take drastic efforts to cut at least 50 percent of spending on the organisation of conferences and working trips, along with a 10 percent cut to other expenditures. The Government proposed the use of over 14.6 trillion VND (635.2 million USD) saved thanks to these cuts in 2021 for COVID-19 prevention and control.

In 2021, the total saved by the State budget reached over 72 trillion VND, according to the report.

Regarding the management of public debts, last year, public debts accounted for 43.3 percent of GDP, while Government debts made up 39 percent of GDP and the country’s foreign debts about 21.7 percent of GDP.

The official said positive results were seen in the implementation of thrift practice and waste prevention as well as resolutions in the field.

He said that this year, the Government will prioritise resources for COVID-19 prevention and control in harmony with socio-economic development, while tightening financial-budget discipline to maximise income and minimise spending.

Delivering a verification report, Vice Chairwoman of the NA Finance-Budget Committee Pham Thuy Chinh pointed to a number of shortcomings in the Government’s performance in thrift practice and wastefulness prevention, including the slow issuance of an overall programme in the field.

NA Chairman Vuong Dinh Hue asked the Government to clarify its detailed limitations and shortcomings for discussion, especially those in public investment and national target programmes.

NA Vice Chairman Nguyen Duc Hai underlined the need to specify measures to promote thrift practice and wastefulness prevention and control, focusing on adjustments to related laws and regulations.

The NA Standing Committee asked the Government to listen to these ideas as it completes its report./.