Total investment capital from the State budget was estimated at more than 29 trillion VND (1.27 billion USD) in the first two months of 2018. (Photo: VNA)

Hanoi (VNA) – Total investment capital from the State budget was estimated at more than 29 trillion VND (1.27 billion USD) in the first two months of 2018, equivalent to 8.6 percent of the yearly plan.

Of the figure, which was 6 percent higher than the same time last year, 5.6 trillion VND (247.8 million USD) came from the central budget, up 0.5 percent year-on year, and the remaining was managed by localities.

In February, total investment from the State budget was calculated at 12.58 trillion VND (553.52 million USD).

The Ministry of Planning and Investment (MPI) said most of the capital has been spent on construction works that began in 2017 and brand new projects.

According to the MPI, the total investment capital from the State budget, excluding Government bonds, planned for 2017 was 307.15 trillion VND (13.5 billion USD).

By the end of June 2017, more than 303.07 trillion VND (13.3 billion USD) or 98.7 percent of the sum was allocated. The remaining 4.074 trillion VND was capital intended for the national target programme on climate change response and green growth, two new projects of the Ministry of Agriculture and Rural Development and the northern mountainous province of Ha Giang, and capital allocated by ministries, agencies and local administrations in violation of rules.-VNA