Seven-month public investment disbursement meets nearly 35.5% of target
The total disbursement of public investment reached 267.6 trillion VND (11.2 billion USD) as of the end of July, fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to the Ministry of Finance.
Hanoi (VNA) ♐– The total disbursement of publicinvestment reached 267.6 trillion VND (11.2 billion USD) as of the end of July,fulfilling only 35.49% of the plan set for 2023, but higher than the 34.47% recorded in the same period last year, according to theMinistry of Finance.
Twelve ministries and 39 localitiesrecorded disbursement rates higher than the national average, theministry said. Localities and agencies recordinghigh disbursement include Dong Thap (58.29%), Tien Giang (56.3%), Long An (54.29%),the Vietnam Development Bank (100%), the State Bank of Vietnam (63.38%), theVietnam Bank for Social Policies (62.75%), and the Vietnam Academy of Science and Technology (47.14%). Among 40 ministries and 24 localitiesposting disbursement rates lower than the country’s average, 32 ministries andcentral agencies and four localities disbursed less than 20% of their annual plans. The ministry attributed the slow progress of disbursement toa number of obstacles. For example, some projects have not yet completed investmentprocedures or not allocated and disbursed capital from the 2023 plan. Some others using foreign investment capital are behind schedule because the procurement of equipment using ODA takes much time, it added. It will require all sectorsto make greater efforts to meet the disbursement target of at least 95% of thetotal capital plan assigned by the Prime Minister. Therefore, the ministryasked ministries, central agencies and localities to focus on removing difficultiesto effectively implement key tasks in public investment disbursement as well asreview demand for adjusting central budget capital plans./.
Accelerating public investment disbursement, particularly for National Target Programmes, would bolster aggregate demand and foster short-term economic growth, according to a report published by the World Bank (WB) on June 19.
Strong disbursement of public investment, especially from the second quarter of this year, has helped increase demands and promote growth of economic sectors, thus contributing to boosting economic growth in the second quarter and the first half of 2023, said General Director of the General Statistics Office Nguyen Thi Huong.
The disbursed capital sourced from the state budget topped 291 trillion VND (12.3 billion USD) in the first seven months of 2023, equivalent to 41.3% of the yearly target and rising 22.1% from a year earlier, showing an observable improvement in public investment disbursement, said the General Statistics Office (GSO).
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Illustrative image. (Photo: VNA) 
