The National Audit Report for the 2014 fiscal year was announced in Hanoi on July 11 by the State Audit of Vietnam (SAV).
Thenational audit report examined records from 14 ministries and centralagencies, 35 major cities and provinces, and 40 State-owned enterprisesand credit institutions.
The SAV reported that the State Budgetcollection in 2013 was over 1,084 trillion VND (49.7 billion USD), withState budget spending of more than 1,277 trillion VND (58.5 billionUSD).
The overspending made up 6.6 percent of gross domesticproduction, about 1.3 percent higher than the rate approved by theNational Assembly.
The public debt in 2013 was over 1,954trillion VND (89.5 billion USD), accounting for 54.5 percent of GDP,while the public debt in 2012 made up 55.7 percent of GDP.
DaoVan Dung, head of the SAV's General Affairs Department, said thatState-owned enterprises submitted incorrect reports regarding revenuesand taxable costs, which meant they paid less VAT and corporate incometax than they should have.
They had been asked to pay an extra 3.28 trillion VND (150.5 million USD) to the State Budget, he said.
Thereported said the SAV also audited the State Bank of Vietnam. The bankwas said to have operated flexibly and efficiently used monetary policyto contribute to macro-economic objectives under the socio-economicdevelopment plan in 2013.
However, banking activities still faced challenges such as credit quality and the ratio of bad debt.-VNA
Thenational audit report examined records from 14 ministries and centralagencies, 35 major cities and provinces, and 40 State-owned enterprisesand credit institutions.
The SAV reported that the State Budgetcollection in 2013 was over 1,084 trillion VND (49.7 billion USD), withState budget spending of more than 1,277 trillion VND (58.5 billionUSD).
The overspending made up 6.6 percent of gross domesticproduction, about 1.3 percent higher than the rate approved by theNational Assembly.
The public debt in 2013 was over 1,954trillion VND (89.5 billion USD), accounting for 54.5 percent of GDP,while the public debt in 2012 made up 55.7 percent of GDP.
DaoVan Dung, head of the SAV's General Affairs Department, said thatState-owned enterprises submitted incorrect reports regarding revenuesand taxable costs, which meant they paid less VAT and corporate incometax than they should have.
They had been asked to pay an extra 3.28 trillion VND (150.5 million USD) to the State Budget, he said.
Thereported said the SAV also audited the State Bank of Vietnam. The bankwas said to have operated flexibly and efficiently used monetary policyto contribute to macro-economic objectives under the socio-economicdevelopment plan in 2013.
However, banking activities still faced challenges such as credit quality and the ratio of bad debt.-VNA
