Hanoi (VNA) – 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)
According to the PM’s document, there remains 35.148 trillion VND (1.51
billion USD), or 9.3 percent of the state budget’s investment plan for 2019
approved by the National Assembly, on which allocation plans hasn’t been
submitted to the PM by the Ministry of Planning and Investment.
The capital disbursed in the first seven months is
very low, reaching only 32.27 percent of the year’s target. Notably, only
10.96 percent of the foreign capital planned for disbursement this year was
allocated. The respective figures in the same period of 2018 were 37.64
percent and 22.63 percent.
Thirty-five ministries and central-level agencies
and 26 provincial-level localities had less than 40 percent of their
assigned disbursement targets fulfilled.
The snail’s pace of disbursement has undermined the
efficiency of public funds use, which in turn has affected economic growth,
fiscal and monetary policy implementation, as well as the investment and
business climate, PM Phuc said.
Aside from several objective factors, subjective
ones are the main causes, especially shortcomings in the management and
implementation of disbursement plans.
Pointing out tasks to ministries, sectors and
localities, the PM said their leaders must take responsibility for
performing those duties, and they must discipline any organisations or
individuals intentionally hampering disbursement progress.
PM Phuc is set to chair a national teleconference in
the latter half of September to discuss ways to promote public investment
capital disbursement. -VNA