The Covid-19 epidemic outbreak has risen again, causing many difficulties and challenges for all production and business activities across the country. Promoting disbursement of investment capital of the State budget in 2020 is one of the key tasks that the Government and the Prime Minister pay attention to, regularly directing and offering many solutions in the Resolution of the Regular Government Meeting and in Special Resolution on increasing the disbursement of investment capital of the State budget to boost the country’s economic growth.
In the third quarter and nine months of 2020, ministries, sectors and localities shall focus on drastically and quickly directing to remove difficulties, especially in site clearance to accelerate the disbursement of State investment capital. Investment capital of the State budget in September and 9 months of year 2020 both reached the highest increase in the years 2016 – 2020[1] that was 48% and 33.3% respectively. However, the disbursement of investment capital of the State budget has only been about 60% of the plan of year 2020. According to the General Statistics Office, an increase of 1% of public investment capital will increase GDP by 0.06 percent points. In recent years, the disbursement of investment capital of the State budget often reached from 92% to 93% of the plan, if the disburses was 100% of the plan in this year, it will increase GDP by 0.42 percentage points. Therefore, the drastic acceleration of the disbursement of investment capital of the State budget in the last months of the year will continue to contribute positively to the growth of the fourth quarter and year 2020.
Many solutions to promote the disbursement of State investment capital have been issued by the Prime Minister, focusing mainly on three groups: (i) Reviewing the legal system on budget, construction investment, timely removal barriers, obstacles and create favorable conditions to speed up disbursement and improve the efficiency of public investment projects; (ii) Urgently complete the work of assigning detailed plans for public investment capital in 2020 to projects; (iii) Organize the project implementation to disburse 100% of the public investment capital in 2020./.
[1] The growth of investment capital of State budget in September over the same period of previous last year of 2016-2020 was respectively: 15.7%; 8.1%; 17.1%; 11.4%; 48%. The growth of investment capital of State budget in 9 months over the same period of previous last year of 2016-2020 was respectively: 13.1%; 6.6%; 11.4%; 6.3%; 33.3%.