G-bond capital disbursed slowly

Just 2.46 trillion VND (108.37 million USD) of G-bond capital was disbursed in the first eight months, equal to only 4.9 percent of the annual plan (Photo: dautuchungkhoan.vn)

Capital mobilised from the issue of G-bonds in the first eight months of this year was very positive, however, it was quite a contrast to the disbursement of the capital source.

According to the Ministry of Finance, total capital mobilised from G-bonds in the first eight months of this year reached nearly 144.1 trillion VND (6.34 billion USD).

The amount was equal to 78.6 percent of the annual plan.

However, unlike the success of the G-bond mobilisation, the disbursement of the capital source in the period was very slow. Just 2.46 trillion VND (108.37 million USD) was disbursed, equal to only 4.9 percent of the plan.

Due to the slow disbursement of public investment, including G-bond capital, Prime Minister Nguyen Xuan Phuc had to ask authorities to take more drastic measures to rectify the late disbursement of investment capital for public projects.

Thirty ministries and provinces reported the slow disbursement of public investment, mainly due to the lack of proper direction by heads of ministries and localities, in addition to inadequacies of related procedures, slow land clearance and limited capacity of project contractors.

The PM noted that slow disbursement of public investment leads to a bottleneck in national economic growth and rising public debt.-VNA