In the last months of the year, the demand to disperse public investment cash is intense

DNHN - More than 212,227 billion VND will have been distributed by the end of August 2022. As a result, about VND 330,000 billion in public investment cash remains to be distributed.

According to figures released by the Ministry of Finance, more than 212,227 billion VND had been disbursed by the end of August 2022, accounting for 39.15% of the Prime Minister's target. This result is lower than the rate for the same time in 2021 (40.6%), although it is greater in absolute terms than 24,942 billion VND. The capital disbursed in the first eight months of 2021 is more than 187,285 billion VND.

Up to 42/51 ministries, central agencies, and 21/63 localities had disbursement rates lower than the national average (39.15%), with 12 ministries and central agencies disbursing less than 10% of the Prime Minister's plan.

This is because the overall state budget investment plan for this year is quite high, comprising 222,000 billion VND of central budget capital and 304,105 billion VND of local budget capital. If the capital of the national goal program from 2021 is included, the entire state budget investment plan for 2022 exceeds 542,105 billion dongs.

As a result, about VND 330,000 billion is waiting to be distributed in the remaining months of the year to disburse 100% of the capital plan, not to mention monies from the Socio-economic Recovery and Development Program.

Deputy Prime Minister Le Van Thanh suggested that ministries, branches, and localities be more stringent because slow disbursement will have a direct impact on this year's and subsequent years' growth rates.

Nguyen Chi Dung, Minister of Planning and Investment, has repeatedly cited the disbursement rate of public investment capital in the first months of the year and the entire year to argue that the specificity of disbursement of public investment capital is low in the first months of the year and increases sharply in the last months of the year because contractors need time to construct, accumulate enough volume for acceptance and payment.

Last month, the Ministry of Planning and Investment identified 21 reasons why public investment funds were not disbursed as intended. This month, we will continue to report on new issues in the sectors of land, and natural resources - environment, building, state budget management, and so on.

The government is still resolved to spend 95-100% of the capital allocated by the Prime Minister this year, including 100% of local budget capital. In addition to continuing to analyze and eliminate challenges and impediments, as well as execute offered solutions, the government will release a resolution on important duties and solutions to enhance public investment capital disbursement in the region in the final month of 2022. The Ministry of Planning and Investment is finalizing the draft resolution.

Several ministries, branches, and municipalities have currently applied for a capital transfer. Deputy Prime Minister Le Minh Khai recently signed a decision to reduce the medium-term public investment plan with central budget capital for the period 2021-2025 in the Ministry of Transport's transport sector - 31,396 billion VND; at the same time, increase the medium-term public investment plan with central budget capital for Hanoi, Hung Yen, Bac Ninh, Ho Chi Minh City, Dong Nai, Binh Duong, and Long An.

The capital transfer for the 2022 plan might take place at the end of September. The proper and timely policies and solutions of the government, as well as the resolve of the ministries, branches, and localities, will aid the disbursement sprint in meeting the objectives established.

P.V