Disbursement of State budget capital in 2020 highest in past decade
The disbursement of State budget capital reached an estimated 91.1 percent of the plan set for the year and rose 34.5 percent year-on-year, the highest rate in the 2011-2020.
Disbursement of State budget capital in 2020 reaches the highest rate in the past decade - Illustrative image (Photo: VNA)
Hanoi (VNA) - Thedisbursement of State budget capital reached an estimated 91.1 percent of theplan set for the year and rose 34.5 percent year-on-year, the highest rate inthe 2011-2020.
This is the result behind theacceleration of public investment disbursement as part of efforts to maintaineconomic growth amid difficulties posed by the COVID-19 pandemic.
Latest updates by the General Statistics Office (GSO) show that total socialinvestment in 2020 increased 5.7 percent year-on-year to over 2.16 quadrillionVND (93.71 billion USD at current rate), and equivalent to 34.4 percent of theGDP.
Of the figure, 729 trillion VND was sourced from the state sector, up 14.5percent; 972.2 trillion VND came from the non-state sector, rising by 3.1 percent;and 463.3 trillion VND was from the foreign direct investment sector, down 1.3 percent.
The GSO said the country attracted a total of 28.5 billion USD in FDI in theyear, falling 25 percent compared to last year.
There were 2,523 newly-registeredprojects with 14.6 billionUSD in investment, down 35 percent in number and 12.5 percent in capital,respectively.
A total of 6.4 billion USD was added to 1,140 existing projects, a year-on-yearincrease of 10.6 percent, while capitalcontributions andshare purchases by foreign investors stood at 7.5 billion USD, down 51.7percent.
The disbursement of FDI in the year totaled an estimated 20 billion USD, down 2percent year-on-year./.
Deputy Prime Minister Vuong Dinh Hue has asked ministries, agencies and localities to accelerate public investment disbursement in line with the Government’s Resolution No.70/NQ-CP and the PM’s Directive No.09/CT-TTg.
Boosting public investment disbursement is an important channel for the country’s socio-economic growth, Prime Minister Nguyen Xuan Phuc said at a meeting in Hanoi on March 27 to prepare for a teleconference between the Government and localities on March 31.
Prime Minister Nguyen Xuan Phuc has requested that public investment capital be fully disbursed this year, viewing this as a key political task that requires the involvement of the entire political system.
Total social investment in the first nine months of this year increased just 4.8 percent year-on-year to 1,445 trillion VND, the lowest pace during the 2016-2020 period, the General Statistics Office (GSO) revealed on September 29.
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Disbursement of State budget capital in 2020 reaches the highest rate in the past decade - Illustrative image (Photo: VNA) 
