Vietnam continues to improve its budget transparency ranking

Specifically, Vietnam's budget transparency ranking has risen to 57th out of 125 countries, an increase of 11 places compared to the 2021 evaluation and an increase of 20 places compared to 2019.

Notably, all pillars have scores higher than the global average and have improved since 2021: budget transparency scored 51/100 points (the global average is 45/100 points, an increase of 7 points compared to 2021); public participation scored 19/100 points (the global average is 15/100 points, an increase of 2 points compared to 2021); budget oversight scored 82/100 points (the global average is 62/100 points, an increase of 2 points compared to 2021).

Notably, in Vietnam's OBS 2023 results, three documents achieved high scores, including the Citizens Budget Report (scoring a maximum of 100/100 points), the State Budget Estimates approved by the National Assembly (scoring 83/100 points), and the In-year Budget Implementation Report (scoring 78/100 points).

Additionally, the ranking results show that the content and form of Vietnam's state budget disclosure are diverse. Along with detailed budget templates and figures, the government also discloses detailed explanatory reports. The Citizens Budget Report is designed with charts and graphics, available on the Ministry of Finance's electronic portal, the Budget Publicity Portal, and in printed publications to disseminate budget information widely, making it easier for the public to understand the budget. It increasingly attracts public interest and further promotes citizen participation in the budget process and budget oversight.

The OBS 2023 ranking results demonstrate Vietnam's determination and efforts to enhance budget transparency through the availability of budget documents and the comprehensive, accurate, and timely disclosure of information throughout the entire budget process, from the budget estimates submitted to the National Assembly, the approved budget estimates, the in-year budget implementation, and the final accounts approved by the National Assembly.

The Ministry of Finance is conducting surveys to evaluate the implementation of local budget transparency as stipulated by the 2015 State Budget Law. These surveys aim to identify difficulties and obstacles promptly, gather suggestions and recommendations from local authorities, and understand the needs and expectations of citizens regarding budget information. This information will provide a basis for advising on amendments and supplements to the regulations on budget transparency, ensuring they are suitable for Vietnam's practical context and better aligned with international standards.