03/07/2017 - 773 Views
On behalf of the Delegation of the European Union (DEU) to Viet Nam, the Programme implements the EU Public Finance Modernization Project (EU-PFMO) providing reform advisory and capacity-building support to the Ministry of Finance and other stakeholders in public financial management. With the support of the project, the revised State Budget Law has been adopted by the National Assembly (NA) on June 25, 2015 and is effective from the fiscal year 2017 onwards. Among other major innovations as the introduction of medium-term financial planning and fiscal decentralization, the revised State Budget Law will significantly improve budget transparency and disclosure. By presenting budget information in a more accessible and readable format, the citizens budget will foster greater understanding of how public money is being spent.