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State auditor eyes stimulus spending (04/06)
06/08/2010 - 15 Lượt xem
"The audit will be a key task for the State Audit of Viet Nam in increasing the effective administration of public expenditures," said Hue.
Audit of the economic stimulus package would focus on expenditures to subsidise loan interest costs for enterprises, estimated to cost the State almost US$1 billion, as well as the implementation of tax reductions.
"I believe that the co-ordination by authorities at different levels with the banking and financial sector will ensure that the interest subsidy package is carried out effectively," said Hue.
According to workshop participants, which included representatives from Laos, Cambodia, Russia and the UK, state audits in each country have played an important part in ensuring public expenditures are allocated and administered economically and effectively.
Viet Nam has managed to enhance the effectiveness of public expenditures and increase financial transparency in recent years, particularly through reformed legal frameworks, but they voice concerns over losses and waste in public spending.
"We at the workshop share the Government’s viewpoint that, in implementing the economic stimulus package along with loosened monetary and fiscal policies, we must enhance financial supervision and risk warnings," said Hue.
Among a number of recommendations made at the workshop to reduce risks of misspent public funds and improve the role of state auditors, the assistant country director for Viet Nam and head of the governance unit of the UN Development Programme Trinh Tien Dung said output-oriented budgeting should replace the current input-based budgeting.
Dung also proposed ways for state audit to rely on practical evidence, pay more attention to public property and build databases and norms for monitoring and evaluation.
Vice chairman of the National Assembly Budget and Finance Committee Dinh Van Nha also suggested that the National Assembly pay greater heed to audit statements when approving the State budget balance.
Source: VietNamNet/Viet Nam News
