Public Investment Capital Disbursement in January Achieves 2.58% of Target

On February 1st, the Ministry of Finance announced that by the end of the first month of 2023, the estimated disbursement of public investment capital for 2024 is 16,934.3 billion VND, reaching 2.46% of the plan (achieving 2.58% of the plan set by the Prime Minister).

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A view of the Mai Son-QL 45 expressway passing QL 217 intersection in Thanh Hoa province. Illustrative photo: Tuan Anh/TTXVN

In 2024, the Prime Minister plans to allocate a total of 688,496.3 billion VND for local budgets. Specifically, the Prime Minister allocates 657,349 billion VND to central ministries, agencies and localities; and there is an additional allocation of 13,076 billion VND compared to the Prime Minister’s initial allocation plan (according to the updated data at the time of reporting).

To expedite capital disbursement progress, the Ministry of Finance recommends that the Ministry of Planning and Investment promptly report to the competent authority on the handling plan for the central budget investment plan for 2024 of ministries, central agencies and localities, which has not been detailed for each task and project as of December 31, 2023.

For central ministries, agencies and localities, proactive efforts should be made to develop implementation plans and disbursement progress for each project; timely guidance should be provided to address any emerging difficulties and obstacles to expedite project implementation progress. As a result, disbursing over 95% of the allocated plan according to the government’s guidance on tasks, key solutions of the 2024 Socio-Economic Development Plan and the State Budget Estimate.

The Ministry of Finance also proposes that central ministries, agencies and localities should urgently instruct investors to coordinate with the State Treasury where transactions take place to follow the procedures for extending the use of capital funding sources permitted by the Economic Recovery and Development Program.

The Ministry of Finance also stated that as of January 31, 2024, the total national disbursement reached 662,588.2 billion VND, achieving 82.47% of the plan and 93.12% of the Prime Minister’s initial allocation plan (711,559.8 billion VND) for 2023. Compared to the same period in 2022, disbursement rates were higher (80.63% of the plan and 92.97% of the Prime Minister’s initial allocation plan for 2022). Of the total disbursement, the Economic Recovery and Development Program accounted for 88,287.12 billion VND, reaching 66.4% of the Prime Minister’s initial allocation plan (132,867.5 billion VND).

According to an assessment by the Ministry of Finance, the disbursement results of the public investment plan for 2023 were 0.15% higher in terms of the disbursement rate and 123,311.7 billion VND higher in absolute value compared to the same period in 2022.

Detailed information on disbursement rates by ministries, sectors and localities in the report by the Ministry of Finance showed that some units achieved 100% of the plan, including the State Bank of Vietnam, the Vietnam Development Bank, the Vietnam Television, the Vietnam National Tobacco Corporation, the Vietnam Writers’ Association, the Vietnam Journalists’ Association, and Ha Nam province.

Some ministries and localities achieved high disbursement rates, such as Dong Thap (99.8%), Quang Ngai (99.79%), Long An (99.19%), Ba Ria – Vung Tau (98.08%), Vinh Phuc (96.88%), Thai Nguyen (96.65%), Ninh Binh (95.98%), Hung Yen (95.95%), Tuyen Quang (95.7), Tra Vinh (95%), the Ministry of National Defense (96.4%), and the Ministry of Transport (95.12%).

However, 56 out of 115 ministries, agencies and localities had lower disbursement results for the 13-month period compared to the national average; among them, many central ministries and agencies had low disbursement rates, with as many as 16 of them disbursing less than 30%.

SOURCEcafef
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