11-month public investment disbursement up nearly 20%

Illustrative image (Photo: VNA)

Hanoi (VNA) – An estimated 445.9 trillion VND (over 18.18 billion USD) of investment capital sourced from the State budget was disbursed in the first 11 months of 2022, equivalent to 74.9% of this year’s target and rising19.9% year-on-year, according to the General Statistics Office (GSO).

In November alone, the figure reached about 58.5 trillion VND, up 19.7% compared to the same period last year, the office reported.

Statistics from the Ministry of Finance show that 16 ministries and central agencies, and 29 localities have reported disbursement rates of over 60%. However, 27 ministries, agencies and 18 localities have recorded their disbursement rates below 50%.

Besides causes affecting the disbursement such as the increasing prices of material, unfavourable weather conditions, and problems in land clearance, other difficulties include those related to feasibility study reports, basic designs and total investment of projects.

Prime Minister Pham Minh Chinh has requested ministries, sector and localities to ramp up the disbursement of public investment capital in the remaining month of this year and early 2023.

In addition, the leader also emphasised the need to speed up the appraisal and approval of projects, and strengthen post-audit activities in the disbursement work./.

VNA