Vietnam Public Expenditure Review : Fiscal Policies towards Sustainability, Efficiency, and Equity
Vietnam has experienced an impressive development transformation. The "Doi moi" course initiated in 1986 has successfully transformed the country from one of the poorest in the world to lower middle-income status. Average per capita incom...
| Main Authors: | , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/279261508765803168/Fiscal-Policies-towards-Sustainability-Efficiency-and-Equity-Overview-Report http://hdl.handle.net/10986/28610 |
| Summary: | Vietnam has experienced an impressive
development transformation. The "Doi moi" course
initiated in 1986 has successfully transformed the country
from one of the poorest in the world to lower middle-income
status. Average per capita incomes more than doubled from
2000 to 2014, placing Vietnam amongst the fastest growing
developing economies with the most impressive poverty
reduction record in the world. Robust economic growth was
supported by sound macroeconomic and pro-growth expenditure
policies. The previous phase of reforms has resulted in
significant achievements in public financial management,
including: (a) establishing and maintaining a system of
aggregate and detailed fiscal controls, which are similar to
those which many other countries use to maintain basic
fiscal discipline; (b) implementing a wide-ranging
decentralization of public finance, enhancing autonomy given
to local governments as well as spending units, both
administrative and public service delivery ones; (c)
increasing fiscal transparency and accountability on the
basis of mutual accountability between executive and
legislative branches with the support of audit institutions
and the judicial system. |
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