Vietnam Disburses US$3 Bln from State Budget in Jan-July

Vietnam has disbursed VND47.7 trillion (US$3 billion) from the state budget for investment in the first seven months, representing 48.6 per cent of the year’s set target.

 

Of total, central administration agencies disbursed VND14.3 trillion, accounting for 43.2 per cent of their annual plan, localities implemented VND33.4 trillion capital, or 51.3 per cent of the plan.

 

The Ministry of Transport is the biggest spender with the disbursement of VND2.4 trillion, finishing 39.1 per cent of its yearly plan, followed by the Ministry of Agriculture and Rural Development with more than VND1 trillion, seeing the highest fulfillment rate of 60.5 per cent.

 

The Ministry of Construction spent only VND69.5 billion of the state budget, representing 19.8 per cent of the annual disbursement plan as the ministry has cut a lot of projects to help lower inflation.

 

Among localities, Ho Chi Minh City is the leader in disbursement volume, with spending of nearly VND4 trillion, followed by Hanoi with VND2.6 trillion and Danang with VND1.5 trillion.

 

Many ministries and localities see low disbursement due to surging prices of inputs since the beginning of this year. (Vietnam Economic Times, GSO Jul 2008)