Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Finance is drafting a Government’s decision on a master plan for practising thrift and preventing wastefulness for the 2016-2020 period, with specific regulations on economical spending in some budget-using areas.
Major objective of the plan is to continue the project on economic restructuring in line with growth model transformation and other restructuring projects of sectors towards better quality and efficiency.
It also aims to restructure the State budget, implementing tight fiscal policies that work synchronously and effectively with currency policies to ensure the macro economy stability.
At the same time, the management of State budget collection and expenditures will also be tightened, ensuring proper spending and budget collection as set, preventing tax evasion and reducing overdue taxes. Resources will be mobilised in a proper manner, while the contribution to State budget is set to reach average 20-21 percent of the GDP.
According to the draft, it is necessary to spend budget economically by making saving plans right from the budget estimate distribution stage to the implementation of policies.
Meanwhile, regular expenditures, excepting for salary and related spending for labourers, will not be increased, while State budget overspending is strived to stay below 4 percent of GDP in 2020.
It also sets specific saving targets for some sectors requiring large budget which are also hot spots in using the State budget inefficiently, including science and technology, education and training, and health care.
Spending on purchasing expensive equipment and means will be saved to prepare resources for salary reforms, as will expenditures for scientific research. Investment will be made in a transparent way basing on outcomes of researches.
State agencies are also encouraged to implement the autonomy mechanism, while the adjustment of public services will be sped up as part of a plan to give direct supports to social policy beneficiaries in stead of through State agencies, said the draft.-VNA
