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Ho Chi Minh City
Thursday, December 1, 2022

Government spending reaches two-thirds of estimate in 10 months

The Saigon Times

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HCMC – Government expenditures in the year to October had expanded 6% year-on-year to VND1,219 trillion, or 68.3% of the planned figure, the Ministry of Finance reported.

Of the amount, development investment spending hit 56.6% of the estimate and 51.34% of the target assigned by the prime minister, at VND297.8 trillion.

Payments of interest on national debts and recurrent expenditures reached over 75% of the estimate, at VND78.3 trillion and VND841.3 trillion, respectively.

According to the ministry, capital disbursement rates in the 10-month period increased by 15.7% compared to the same period last year, but were still lower than planned.

During the period, the State took nearly VND4.893 billion from provisions, giving some VND730 billion to the Ministry of National Defense to combat Covid-19 and VND3,489 billion to localities to support victims of Covid-19 and natural disasters.

It also allocated VND4,149 billion to 22 localities to support workers in rent payments according to the prime minister’s Decision 08/2022/QD-TTg issued on March 28.

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