National Assembly deputies called for tightening the management of budget spending during their discussions on the use of State budget in 2014, as well as the budget estimates and distribution for the following year at the October 31 session.
Many deputies were of the opinion that the budget overspending rate, at approximately 5 percent of GDP excluding Government bonds, is too high compared to the NA’s set goal of 4.5 percent of GDP including Government bonds by the end of 2015.
Deputy Nguyen Thi Quyet Tam said it will be difficult to maintain budget balance next year, adding that the Government’s explanations on this issue are not persuasive enough. She stated that one of the causes behind this problem is ineffective management of revenues and spending.
Other deputies stressed the need to keep spending in line with estimates. Deputy Tran Du Lich suggested reforming the process of drafting the state budget along the direction of increasing the legislative body’s say in this work.
Deputy Tran Hoang Ngan said it is also necessary to make into law the sources of revenues for the State budget.
Deputy Bui Duc Thu pointed to such problems as irrational spending structure of the State budget and rising overspending resulting in high public debt. He and other deputies emphasised the need to reduce short-term borrowing and adopt an economical fiscal policy.-VNA
Many deputies were of the opinion that the budget overspending rate, at approximately 5 percent of GDP excluding Government bonds, is too high compared to the NA’s set goal of 4.5 percent of GDP including Government bonds by the end of 2015.
Deputy Nguyen Thi Quyet Tam said it will be difficult to maintain budget balance next year, adding that the Government’s explanations on this issue are not persuasive enough. She stated that one of the causes behind this problem is ineffective management of revenues and spending.
Other deputies stressed the need to keep spending in line with estimates. Deputy Tran Du Lich suggested reforming the process of drafting the state budget along the direction of increasing the legislative body’s say in this work.
Deputy Tran Hoang Ngan said it is also necessary to make into law the sources of revenues for the State budget.
Deputy Bui Duc Thu pointed to such problems as irrational spending structure of the State budget and rising overspending resulting in high public debt. He and other deputies emphasised the need to reduce short-term borrowing and adopt an economical fiscal policy.-VNA
