PM pushes public finance project

May 09, 2016 | 11:37

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The Prime Minister has recently approved a technical assistance project involving consultations and analyses of public finance management in Việt Nam.

The project is funded by the Swiss Economic Co-operation and Development (SECO) organisation and Global Affairs Canada through the World Bank (WB). - Illustrative image/ Photo thanhtra

The project is funded by the Swiss Economic Co-operation and Development (SECO) organisation and Global Affairs Canada through the World Bank (WB).

The project aims to improve the public finance system in Việt Nam in terms of efficiency and effectiveness of public expenditure and public service.

The project comprises five components - improving the connection between planning and the State budget, improving efficiency in controlling budget use, improving the provision of budget information, improving systems to ensure budget stability and determining and managing the fiscal-year risks.

The Ministry of Finance (MoF) will implement the project over five years.

The total cost of the project is US$6.33 million, of which $5.73 million is sourced by non-refundable aid from SECO and sponsorship by Global Affairs Canada. The remaining $600,000 is being funded from Việt Nam’s budget.

The Prime Minister assigned the MoF to finalise the documents and made the ministry accountable for the appraisal and implementation of the project.

VNS

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