Central bank cuts staff, office expenditure to ease budget

The State Bank of Vietnam Friday announced it will cut its spending on vehicles and other facilities to reduce State budget expenditure and join the government’s fight against high inflation.

The central bank will suspend payments for automobiles approved and allocated by the Ministry of Finance to senior officials in the bank and its nationwide affiliates.

It has also ordered that no payment of more than VND10 million or US$500 be made for items like air-conditioner and information technology products.

It has approved payments for already signed contracts to avoid compensation claims from sellers.

Thanhnien

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