Government
Budget
Ministries to be trimmed for ‘efficiency’ under next government
Hoping to reduce bureaucratic red tape, the National League for Democracy revealed that it will slash ministries when it takes control of the government in two months. The ministries have been rushing to compile progress reports with an eye toward easing the transition. But the flurry ...
Vietnam battles to balance State budget
Vietnam Minister of Finance Dinh Tien Dung said in an interview on VTV on 10 January that one of the key tasks that his ministry will fulfil this year is to balance the state budget. Dung said it was projected that in 2016 the crude oil price ...
Budget discussion cancelled as inflation concerns grow
Individual ministries will not be called to parliament to explain their budget requests for 2016-17 until debate begins in January in an effort to speed up the approval process, Myanmar MPs were told on 23 December. Parliamentarians arrived yesterday expecting to hear representatives from the ministries ...
Budget bill proposes $3b deficit
The current government headed by President U Thein Sein has proposed a K24 trillion (US$18.4 billion) budget for the incoming government, including a K3.9 trillion deficit – more than $3 billion at current exchange rates. The draft was submitted to the Pyidaungsu Hluttaw on 22 ...
Tax revenues grow state coffers by $1.3B
Revenue from tax collection jumped 25 per cent in 2015, government officials revealed on 22 December, saying the tax department has collected about $1.3 billion on the back of better compliance and awareness among the private sector. At a seminar in Phnom Penh, Kong Vibol, director ...
Ministry set to introduce social pension in January
Nonagenarians and centenarians are to receive their social pensions starting next month, the government says. The Ministry of Social Welfare, Relief and Resettlement will provide the annual K18,000 payment to 7754 elderly men and 15,619 elderly women aged from 90 upward, a total of 23,373 ...
Local budget management causes National Assembly concern
The responsibilities of provincial assemblies in approving budget plans and granting rights to provincial administrations to use money they have collected in excess of the target plan has raised concerns among some National Assembly members. The concerns were raised by National Assembly members on 16 December when ...
Oil won't affect 2015 budget
Do Hoang Anh Tuan, deputy minister of finance, said reduction in the world crude price to US$36 per barrel in future transactions would not affect budget revenue this year. The budget revenue this year has exceeded the target to reach between VND65 trillion and VND66 trillion ...
Supplementary budget approved without opposition
For all the storm and fury directed at it, MPs on 9 December passed unopposed a supplementary budget request that amounted to 11.95 percent of the existing budget for the current financial year. Not a single program or a single kyat was cut. Finance Minister U Win ...
Vietnam finance ministry allays concerns about local governments' debts
A representative of the finance ministry has allayed concerns that many local governments are struggling financially, after local media reported two agencies in the southern region are drowning in debt. Speaking to news website VnExpress on 7 December, Vo Thanh Hung, chief of the ministry’s budget ...
