“ The State Treasury builds an important legal framework for sustainable development"

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Director General of the State Treasury Nguyen Hong Ha stated at the Conference. Photo: TL

Reporting on the 2016 performance results of the Treasury system, Deputy Director General of the State Treasury Tran Kim Van said: "Strictly following the policies and operating measures to implement the socio-economic development plan, State budget estimates in 2016 of the Government and working programs of the Ministry of Finance from the beginning of 2016, the State Treasury focused all resources and synchronously deployed many positive solutions to promote the disbursement of investment capital and meet the expenditure needs of units using the budget but ensure the tight management of expenditures, and also promoted reform and modernization of the operational activities and internal management to improve the effectiveness and efficiency of the whole system’s operations "

By the end of 2016, the whole system controlled regular expenditure estimated at 785,386 billion vnd (excluding expenditures for debt payments and aid, and additional expenditures for financial reserves), equal to 93.8% of the estimates. Through the control of expenditure, the State Treasury’s units detected and requested to supplement payment records for about 29,762 expenditures, those procedures were not completed and the amount of 43 billion vnd was refused to be paid.

For expenditure for basic construction investment, the whole control system was estimated at over 285,861 billion, equivalent to 84.5% compared to the annual plan, lower than the same period of 2015. Through the control of investment capital payments, the State Treasury has refused to pay 119.2 billion vnd due to irregular requests for payment of investors.

Noteworthy, Ms. Tran Kim Van said, the State Treasury’s units operated the Tabmis system and entered in cost accounting, in a timely fashion and accurately revenues and expenditures of the State budget, the capital types, funds and the State’s assets. Summarizing and making reports have been maintained in order, quality and timeliness. The accounting data played an important part in providing information for monitoring and assessing the revenues and expenditures of the State budget as a basis for the competent authorities to decide appropriate management measures.

The mobilization of capital in 2016 achieved positive results. By the end of 7 December 2016, total mobilized capital reached over 281,294 billion vnd (equal to 1.08 times of the total issued capital in 2015).

Representatives of the Hanoi State Treasury, the Ho Chi Minh City State Treasury, General Department of Taxation, Department of Debt Management under the Ministry of Finance and the Department of Personnel and Organization commented about the implementation of the tasks and collaboration between the Treasuries with departments in operation of the State budget at the Conference.

For the implementation of the tasks of the State Treasury in 2016, Deputy Finance Minister Tran Xuan Ha assessed that the State Treasury successfully completed its assigned professional and political tasks and played an important role in collaborating with the Ministry of Finance to perform effectively all directions and operations of the Government for socio-economic development of the country. In which, the Deputy Minister Tran Xuan Ha stressed that in 2016, the State Treasury step by step built an important and synchronized legal framework to implement the assigned functions and new tasks to create a foundation for sustainable development of the State Treasury.

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Speaking to conclude the Conference, General Director of the State Treasury Nguyen Hong Ha said that in 2016 the State Treasury focused resources and implemented major policy proposals of the system such as: proposals submitted to the Ministry and the Government on issuing Decree No. 24 on regulations of State Treasury management; urgently researching and drafting a decree on State financial reports to guide the implementation of accounting rules; and chairing and collaborating with the State Budget Department and relevant units to study and amend the State Budget Index System. In addition, the State Treasury also successfully completed the management of revenues and expenditures of the State budget; capital mobilization and actively, flexibly and creatively operated the funds to meet payment demands and pay the budget at all levels at all times.