Kage Kaisen Revival!

January 19th 2010, 6:45 pm by Kensei


To all our members,

I (Kensei), have decided to renovate the site, which has remained dead since our head Administrator, Baraku, went absent. There will be a new set of rules, a new skin, new profile formats...

Basically, we're starting the site over.

But don't be alarmed. For those of you who choose to return, you will not have to rewrite your application, or change it to the present system. Your applications are still there, resting in the Filing Cabinet -- feel free and ask the Staff to repost it if it has already been approved, or ask them to read over the application and approve it, then move it to the Approved sub-boards.

If you do not wish to roleplay on the site any longer, or the renovation does not appeal to you, all you have to do is tell the Staff in a PM ; your account will be removed without any questions.

We apologize for any inconveniences, and thank you all for your patience and cooperation.

Your loving (new) head Admin,

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steadily decrease their budgets

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steadily decrease their budgets

Post by lynk2510 on April 10th 2011, 9:09 pm

In 2011, 4 billion is needed to pay interests on the foreign debt of the government. This is about 12% of the government budget. More and more, lenders to the Vietnamese government would have to take future earnings and the ability of the government to collect taxes as important considerations for future loans. Sovereign borrowers tend to have an edge over private sector borrowings in this regard, and one wonders whether this is a moral hazard in the international financial system? If the foreign reserves of the Vietnamese government falls below the 4 billion needed annually to pay interests, then what could happen? Government foreign reserves are on a downward trend since the financial crisis started in Vietnam in 2008, before the global financial crisis started. What would be the regional implications if Vietnam becomes Southeast Asia’s Iceland, or Greece?

There is now a drive to cut the budget deficit by cutting down on government spending. The reduction as planned is however a mere 0.5% reduction over 2010. More must be done and government and party leaders must set personal examples as well as let their offices take the lead. Vietnamese people were very impressed when a foreign head of government traveled via a budget airline out from Hanoi several years ago. In contrast, while on state visits, Vietnamese leaders often bring with them large delegations in a specially chartered plane of the national airlines. Travelling with less style would help. Other examples of wastage abounds.

What the government needs is to institutionalize macro controls and prevent over-spending. Overall there should be a cap on the deficit that no government is allowed to change or exceed without 80% approval by the National Assembly, and the State President should also be allowed to scrutinize the government’s budget more carefully and be given the authority to request the government to make compulsory changes mandated by law. The State President should also be allowed to veto budget deficits if he still felt that the 80% approval in the National Assembly was not in the interests of the nation. Compulsory savings from the annual government budget should become a regular practice.

Sector-specific controls could also be instituted. For instance, while the areas of defence, health care, and education need not be subjected to strong caps, the budgets of the other ministries and of the state-owned enterprises should be tightly controlled and be put on a road map to steadily decrease their budgets over the next 5 years, until the financial situation has improved tremendously. If the state-owned busines
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