Localities accelerate disbursement of public investment 2022

Specifically, the Prime Minister assigned the investment plan with state budget capital 2022 to five localities with a total capital of 26.6 trillion VND, of which the central budget is 5.7 trillion VND. the local budget balance capital source is 20.9 trillion VND.

As of May 4, five localities reported disbursing 5 trillion VND, reaching 19.0% of the plan assigned by the Prime Minister in 2022. Of the figure, the local budget has disbursed 3.8 trillion VND, reaching 18.2% of the plan; the domestic central budget has disbursed 1.2 trillion VND, reaching 24.5% of the plan; while ODA capital has disbursed 40.7 trillion VND, reaching 5.5% of the plan.

Disbursement is expected to reach 6.4 trillion VND by the end of May 31, equivalent to 24.2% of the plan assigned by the Prime Minister. Of which, local budget capital will account for 23.4% of the plan, domestic central budget capital for 30.5%, and ODA capital for 5.9% of the plan.

Localities reported that in the first quarter of 2022, the COVID-19 epidemic still affected the progress of socio-economic recovery and development, affecting the implementation of projects. Moreover, the price of construction materials and supplies increased in the first months of 2022, so many businesses, contractors and projects had to adjust their policies and total investments.

In addition, new construction projects are implementing procedures for making, appraising and approving designs, cost estimates, and organising bidding for construction and installation, which have not yet been disbursed.

The localities proposed to extend the time for implementation and disbursement of the domestic state budget capital assigned to the 2021-2022 plan. At the same time, it is necessary to soon announce the mid-term capital plan for the 2021-2025 period and the plan for the National Target Programme to promptly prepare procedures for 2022, disburse the assigned capital plan and soon have circular guiding in the implementation of the National Target Programme.

The Ministry of Finance requested ministries and branches to give opinions on problems, recommendations of localities. For content beyond its authority, the working group shall record and summarise a report to the Prime Minister.

(Source: NDO)