An implementation plan of the Government’sMaster Program on thrift practice and waste combat in 2021 at the Ministry of Finance (MoF) has just been issued by the ministry.

Drastically accelerate the disbursement of public investment capital plan in 2021.

According to Decision No.253/QD-BTC dated March 4, 2021 on the implementation plan of the Government’s Master Program on thrift practice and waste combat in 2021 at the MoF, the MoF has provided key solutions for the effective performance of thrift practice and waste combat in 2021.

Specifically, strictly keep budgeting discipline, closely control the State budget deficit. Continue to restructure state budget expenditure towards efficiency and sustainability; maintain a reasonable structure between accumulation and consumption, increase the proportion of development investment expenditures, reduce recurrent expenditures, ensure expenditurefor people, social security and national defense and security.

Continue to follow the principles of openness and transparency and effectively implement thrift practice andwaste combat; review overlapping and ineffective policies and tasks, prioritize the implementation of expenditures according to their urgency, importance level and implementation capacity in 2021 to complete tasks, programs, projects and schemes approved by competent authorities.

Expand the tax base, strengthen revenue management; drastically take measures for combating revenue loss, transfer pricing, tax evasion, and tax debt collection.

Implement public debt management in accordance with the Law on Public Debt Management2017 and its guiding documents. The mobilization, management and use of loans must be associated with the restructuring of public investment and orientations for the mobilization and use of this capital in each period.

Closely review plans on the use of ODA and concessional loans of foreign donors. Resolutely eliminate unnecessary or ineffective projects. Allocate estimates of state budget expenditures from ODA and concessional loans of foreign donors for projects in accordance with the progress signed with donors, ability to meet reciprocal capital sources, progress of ground clearance and capacity of investors and projects funded by ODA and concessional loans from foreign donors. The loan allocation for recurrent expenditure tasks is not allowed.

Drastically accelerate the disbursement of the public investment capital plan associated with the efficient use of public investment capital. Implement the Law on Management and Use of public assets, and legal documents.

On December 31, 2020, Prime Minister Nguyen Xuan Phuc signed Decision 2276/QD-TTg promulgating the Government's master program on thrift practice and waste combat in 2021. The decision states that the development and implementation of the program is an important factor to create resources, contributing to overcoming consequences of the pandemic, natural disasters, climate change, and create momentum for recovery and development of the country's economy, and ensuring the completion of the socio-economic development plan for 2021.

Therefore, the thrift practice and waste combat in 2021 should focus on effectively implementing tasks, solving difficulties for production and business, ensuring social order and safety to restore and develop the economy, striving to achieve the highest target of socio-economic development and tasks set by the National Assembly to bring the GDP to 6%, and GDP per capita of about US$3,700.