HANOI, 10th June, 2022 (WAM) -- Vietnam was placed 68th out of the 120 countries in the Open Budget Survey (OBS) 2021 recently released by the International Budget Partnership (IBP), up nine spots against 2019 and 23 against 2017, the Ministry of Finance announced on Thursday.
According to the Vietnam News Agency (VNA), the country gained six points in all the three components - Transparency, Public Participation and Budget Oversight - compared to 2019.
It scored 44 out of the maximum of 100 in Transparency and 80 in Budget Oversight last year. Its score in Public Participation reached 17, higher than the global average of 14.
According to the ministry, the OBS2021 results showed Vietnam's efforts in improving budget transparency over the years. The country has been striving to adopt good international practices as it has released three-year national financial and budget plans and make citizens budget reports more comprehensible to the public.
The country has also provided its citizens with easier access to financial and budget information to better grab their attention and encourage public participation in building and monitoring budget plans.
The OBS is the world's independent, comparative and fact-based research instrument that uses internationally accepted criteria to assess public access to central government budget information; formal opportunities for the public to participate in the national budget process; and the role of budget oversight institutions, such as legislatures and national audit offices, in the budget process.