The 2024 budget investment plan allocated by the government to ministries, central agencies, and localities totals nearly VND670 trillion. This includes the central budget of nearly VND240 trillion (comprising VND217 trillion in domestic capital and VND20 trillion in foreign capital) and the local budget of over VND432 trillion.
The planned local budget for 2024 exceeds the government’s allocation by more than VND51 trillion (based on updated data). The capital carried over from previous years up to the reporting date is more than VND54 trillion, including central budget of over VND32 trillion (of which more than VND27 trillion is for specific sectors and over VND5.1 trillion for national target programs), and local budget of nearly VND22 trillion.
Therefore, the total 2024 allocation plan (including the Prime Minister’s allocation, increased local budget plans, and carried-over funds from previous years) amounts to nearly VND775 trillion.
However, according to the Ministry of Finance, as of July 31, 2024, only about VND245 trillion of the public investment capital has been disbursed, equal to 31.61 percent of the total allocated plan.
Currently, 19 of 44 ministries and central agencies and 28 of 63 localities have either not allocated or fully allocated the capital assigned by the government. The total unallocated capital is more than VND21.115 trillion, accounting for 3.16 percent of the allocated plan.
The Ministry of Finance cites incomplete investment procedures as the main reason for the unallocated capital. Additionally, some projects and tasks are still being compiled for adjustment in the mid-term public investment plan, and there are requests to extend the capital allocation period to complete the projects.
In light of this situation, the Ministry of Finance recommends that ministries, central agencies, and localities adhere strictly to the Prime Minister’s directives on disbursing public investment capital and urgently implement specific measures to achieve the goal of disbursing at least 95 percent of the plan as outlined in Resolution No.01/NQ-CP of the government.
