Five-month public investment disbursement reaches nearly 27% of target

- Monday, 03/06/2024, 09:55

The disbursement of public investment from the State budget in the first five months of this year was estimated to reach 190.6 trillion VND (7.44 billion USD), equal to 26.6% of the yearly target and 5% higher than the same period last year, according to the General Statistics Office (GSO).

Five-month public investment disbursement reaches nearly 27% of target -0
Engineers and workers are diligently relocating technical infrastructure to make space for metro line No. 2. Source: www.vietnam.vn

Of the sum, investment managed by the government was estimated at 32.5 trillion VND, equivalent to 29.3% of the yearly plan, a year-on-year decrease of 2.6%. Some ministries posted estimated disbursement rates lower than those recorded last year, namely the Ministry of Natural Resources and Environment (down 34.8%), the Ministry of Transport (down 19.1%), the Ministry of Health (down 1.5%) and the Ministry of Education and Training (down 1.1%).

The GSO also said that implemented investment capital managed by localities was estimated at 158.1 trillion VND, equal to 26.1% of the yearly plan and up 6.7% over the same period last year.

In May alone, 48.2 trillion VND in public investment capital from the State budget was disbursed, a year-on-year increase of 3.1%. 

To promote the disbursement of public investment capital, the Ministry of Planning and Investment (MPI) suggested the Government to direct ministries, agencies and localities to proactively and drastically implement tasks and solutions set out in Resolutions of the National Assembly and the Government, especially the Prime Minister's directives on the acceleration of public investment disbursement.

Minister of Planning and Investment Nguyen Chi Dung urged ministries, sectors and localities to promptly handle difficulties to speed up the disbursement rate.

It is necessary to proactively review the disbursement capacity of each project to have adjustment plans from projects with slow disbursement to outstanding ones which need additional capital, he said.

According to the MPI, by the end of May, ministries, agencies and localities had allocated 634.6 trillion VND for projects, reaching 95.6% of the plan assigned by the Prime Minister.

VNA