HCM City’s public spending tardy in first half despite great efforts
Ho Chi Minh City's public spending in the first half of 2023 reached 15.43 trillion VND (652 million USD), accounting for only 23% of the budgeted amount despite the many measures it took to remove hurdles.
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| HCM City spends only 23% of its public spending outlay in the first half (Photo: VNA) |
District authorities and government agencies have been making great efforts to achieve the spending target after an unsatisfactory performance last year and in the first few months of this year.
Besides unavoidable factors like escalating prices of construction materials, which affect contractors’ work, the city has also discovered that agencies overseeing public spending register for low amounts of funds to avoid the stigma of failure to spend.
To ensure that spending this year reaches at least 95% as required by the Government, the City People's Committee has instructed all related agencies and districts to accelerate disbursement.
It has also instructed the districts to review projects that face problems and propose solutions. If resolving them is beyond their authority, they should promptly report them to the city administration, it added.
The Department of Planning and Investment has been ordered to immediately review all projects and make plans to replace those that cannot be implemented.
For the full year the city’s public spending allocation is 70 trillion VND (3 billion USD), double last year’s figure.
(Source: VNA)
