Localities see rise in disbursement of foreign-sourced public funds hinh anh 1Participants at the teleconference between the Ministry of Finance and localities on December 7 (Photo: VNA)

Hanoi (VNA) - The disbursement of public investment sourced from foreign loans in localities around Vietnam during January - November increased considerably compared to the first half of the year.

As of November 30, 41 percent of the public investment that is an additional allocation from the central budget to localities’ budgets and belongs to this year’s revised disbursement plan had been disbursed, a teleconference between the Ministry of Finance (MoF) and localities on December 7 heard.

There are four localities with disbursement rates exceeding 70 percent of the revised disbursement targets - Hanoi and the provinces of Binh Dinh, Tay Ninh, and Ba Ria - Vung Tau.

In terms of capital the Government re-lends to localities, disbursed funds account for 38 percent of the initial plan and 41 percent of the revised target.

Truong Hung Long, Director of the MoF’s Department of Debt Management and External Finance, said that although public investment disbursement, considered an important growth driver, had been sped up, it has begun to slow over the last two months as some projects are nearing completion and central provinces have had to invest efforts in coping with natural disasters.

The 11-month disbursement rate of 41 percent is still low, as most localities have committed to this figure reaching 90 percent or higher, he noted.

The MoF requested localities take prompt actions. since there is not much time left for the task and the undisbursed capital from foreign concessional loans remains relatively large./.