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Budget spending high compared to GDP

by VTV404 October 2017 Last updated at 11:43 AM

VTV.vn - Vietnam's budget spending is high compared to its GDP according to a recent joint government World Bank report.

The report shows that total state budget spending averaged 29.2% of GDP, a high level compared to the region and countries with similar levels of development. Expenditure on education and health was higher than the average expenditure increase, but spending on science and technology is lower than average.

Regular expenditure accounted for an ever-increasing share of the budget, with the rapidly rising wage budget accounting for about 20 percent of total state budget expenditure due to rising wages and an increase in the number of civil servants.

Another problem is that if all approved projects are put into operation, Vietnam will have the world's largest number of deepwater ports and international airports compared to the size of the economy. Therefore, in the coming time, it is necessary to increase the efficiency of investment.

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