Lao NEWS on LNTV: NA calls on government bodies to avoid creating debts.23/12/2014

VO NA calls on government bodies to avoid creation of any further incidents of unapproved debt
INTRO: The National Assembly (NA) has called on government bodies to avoid creation of any further incidents of unapproved debt or undertake repeat payments to any development project in the ongoing 2014-2015 financial year.
STORY: NA President Madame Pany Yathotou, who chaired the ongoing NA session, made the comments in relation to debate on the report of the State Audit Organisation (SAO) regarding the audit result of state budget implementation for 2012-2013, and implementation of the resolutions of the 5th and 6th NA sessions.
She said that the implementation of revenue collection could be described as fairly managed, but implementation of expenditure was unmanaged. She praised the government’s making a decisive attempt to limit debt by not creating new investment projects except projects that serve aims of rural development and poverty reduction.

Referring to the report from SAO which shows an increase of 1.09 percent in the trade deficit over the 7.07 percent of GDP projection approved by the NA, Madame Pany said that despite the increase being small it remained a violation of the NA resolution. She said all figures provided by the SAO were meaningful for NA’s work in overseeing the government even if it was not always one hundred percent accurate in all cases.
NA President has also stressed that the ministry, Ministry of Planning and Investment and the Bank of the Lao PDR had to be more decisive in addressing deficiencies that provide loopholes for business operators and civil servants of the sectors involved to take advantage of loose fiscal management.
She recommended the sectors revise all related regulations, and proposed offenders be punished according to existing civil and criminal procedures.