PM orders acceleration of disbursement of public funds
Prime Minister Nguyen Xuan Phuc has demanded ministries, sectors and localities to take stronger actions to speed up the disbursement of the public investment capital plan for 2019, as the disbursement so far is at a critically low level.
The public investment capital disbursed in the first seven months of 2019 is very low, reaching only 32.27 percent of the year’s target (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc hasdemanded ministries, sectors and localities to take stronger actions to speedup the disbursement of the public investment capital plan for 2019, as thedisbursement so far is at a critically low level.
According to the PM’s document, there remains35.148 trillion VND (1.51 billion USD), or 9.3 percent of the state budget’sinvestment plan for 2019 approved by the National Assembly, on which allocationplans hasn’t been submitted to the PM by the Ministry of Planning andInvestment.
The capital disbursed in the first seven monthsis very low, reaching only 32.27 percent of the year’s target. Notably, only10.96 percent of the foreign capital planned for disbursement this year wasallocated. The respective figures in the same period of 2018 were 37.64 percentand 22.63 percent.
Thirty-five ministries and central-levelagencies and 26 provincial-level localities had less than 40 percent of theirassigned disbursement targets fulfilled.
The snail’s pace of disbursement has underminedthe efficiency of public funds use, which in turn has affected economic growth,fiscal and monetary policy implementation, as well as the investment andbusiness climate, PM Phuc said.
Aside from several objective factors, subjectiveones are the main causes, especially shortcomings in the management andimplementation of disbursement plans.
Pointing out tasks to ministries, sectors andlocalities, the PM said their leaders must take responsibility for performingthose duties, and they must discipline any organisations or individualsintentionally hampering disbursement progress.
PM Phuc is set to chair a nationalteleconference in the latter half of September to discuss ways to promotepublic investment capital disbursement. -VNA
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The public investment capital disbursed in the first seven months of 2019 is very low, reaching only 32.27 percent of the year’s target (Photo: VNA) 
