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Tuesday, June 18, 2024

Finance Ministry urges capital disbursement for key projects

The Saigon Times

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HCMC – The Ministry of Finance has called on the Ministry of Transport and local authorities to speed up the disbursement of public capital for projects of national importance, particularly those in the infrastructure sector.

As per the Ministry of Finance’s data, the total state budget allocated for priority projects, including those for infrastructure development, exceeds VND125.6 trillion. This constitutes 19.1% of the total state budget assigned by the prime minister to ministries, central agencies, and local governments (amounting to VND657.35 trillion).

However, by the end of March, the disbursement for these projects had only reached VND14 trillion, accounting for just 11.2% of the allocated budget, which is lower than the national disbursement rate of 12.16%.

The ministry highlighted that some projects have not received any fund disbursement for the year 2024, while others have experienced disbursement rates well below 0.1% of the plan.

To expedite the disbursement of the 2024 state budget for national priority projects, the Ministry of Finance has proposed that the Ministry of Transport and local authorities accelerate the disbursement of local budgets to projects and allocation of the state budget from the increased revenue collection in 2021 to localities.

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