Finance Ministry responsible for public debt management: NASCMembers of the National Assembly Standing Committee (NASC) have proposed that the Ministry of Finance (MoF) be the main agency responsible for assisting the Government in the management of public debt, instead of three bodies as currently stipulated in law. NA Vice Chairman Phung Quoc Hien delivers speech yesterday as the NASC and representatives of the Government discussed the revised Law on Public Debt.— VNA/VNS PhotoThe idea was put forward yesterday as the NASC and representatives of the Government discussed the revised Law on Public Debt. Chairman of the NA Committee for Finance and Budget, Nguyen Duc Hai, said the committee thought that having a single body managing public debt is necessary to restructure the State budget, better manage public debt and ensure a stable national finance system. Other ministries and ministerial-level agencies would be responsible for co-operating with the MoF in public debt management, the committee suggested. NA Vice Chairman Phung Quoc Hien mentioned concerning incidents, such as the sharp increase in public debt and excessive ODA loans over the past few years, attributing them to shortcomings in public debt management.

Source: VietNamNet News September 13, 2017 06:33 UTC