However, the completion of investment procedures for projects and the allocation of capital are still slow compared to the requirements of the National Assembly in Resolution No.69/2022/QH15, he said at the legislature’s ongoing 5th session.
Dung proposed the N.A. assign the Government to direct localities to review and balance state budget capital to get back the capital that has not been allocated to specific tasks or projects.
At the request of localities, the Prime Minister will approve the medium-term public investment plan with capital sourced from the central budget in the 2021-2025 period while the provincial People’s Councils approve their medium-term public investment plans using the local budget in the period of 2021-2025 to recover the advance capital of each task or project.
The Government will report to the National Assembly the results of the capital recovery at the end of the medium-term public investment plan in the period of 2021-2025.
The N.A. on May 23 afternoon listened to the Government’s report and the N.A.'s Finance – Budget Committee’s assessment report on the lists and capital allocation for tasks and projects under the Socio-economic Development and Recovery Program; funding allocation, adjustment, and supplementation of the medium-term public investment plan funded by the central budget in the 2021-2025 period and the allocation of the central budget for the national target program in 2023.
Reporting to the N.A., Dung said that in the N.A.'s Resolution No.43/2022/QH15 (Resolution 43), the N.A. decided to increase spending from the state budget to a maximum of 176 trillion VND (7.5 billion USD) mainly in 2022 and 2023 to support and invest in tasks and projects in industries and fields. Based on the conclusions of the N.A. Standing Committee, the Prime Minister approved nearly 161.85 trillion VND (6.9 billion USD) from the central budget for implementing the socio-economic recovery and development program. Until now, the unallocated capital is 14.152 trillion VND.
The capital plan from the central budget for 2023 approved by the N.A. is 338.41 trillion VND, of which over 137.84 trillion VND is allocated for the socio-economic recovery and development program.
Dung said that most of the projects under the program are new construction projects, so it is difficult to disburse all the allocated capital in 2023. Meanwhile, a number of tasks and projects are under the medium-term public investment plan for the period 2021-2025 of ministries and localities. They need additional capital to accelerate progress of the projects and soon put them into operation.
Therefore, flexibly harmonizing between the medium-term public investment capital plan for the period 2021-2025 and the capital plan under the program is very important, Dung said.
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