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| he headquarters of the State Bank of Vietnam in Hanoi. The Open Budget Survey (OBS) 2023 shows that Vietnam makes progress in budget transparency__Photo: VNA |
Vietnam ranks 57th out of the 125 surveyed countries in terms of budget transparency, up 11 places compared to 2021, according to the Open Budget Survey (OBS) 2023 released recently by the International Budget Partnership.
The OBS is the world’s only independent, comparative and fact-based research instrument that uses internationally accepted criteria to assess public access to central government budget information; formal opportunities for the public to participate in the national budget process; and the role of budget oversight institutions such as legislatures and national audit offices in the budget process.
It shows that Vietnam has a transparency score of 51 out of 100, higher than the global average of 45, and up seven points from 2021; and a public participation score of 19 out of 100, two points higher than 2021 and four points higher than the global average.
Regarding budget oversight, it recorded 82 points as compared with the global average of 62, and up two points from 2021.
“Vietnam has increased the availability of budget information by increasing the information provided in the executive’s budget proposal,” the report says.
Notably, the country gained 100 points in citizen budget, 83 in enacted budget, and 78 in in-year reports.
To achieve the results, the Ministry of Finance has collected public feedback on the draft state budget estimate to be submitted to the National Assembly and make citizen budget reports. The approved budget estimate has been made public in a timely and accurate manner.
The ministry said it hopes for more advice and technical support from organizations at home and abroad, and individuals to perfect relevant institutions and policies, thus further attracting public attention to budget information and creating favorable conditions for residents to contribute opinions to documents regarding the budget process and oversight.- (VNA/VLLF)
