VOV.VN - The Government views public investment as both a resource and a driving force behind national development, says Prime Minister Pham Minh Chinh.

VOV.VN - Accelerating the disbursement of public investment can be considered one of the key political tasks of the Government this year following slow progress made in the work last year.

Although the economy was forecast to continue facing difficulties and challenges in 2023, there were silver linings to pin hope on, experts said.

The Government has disbursed more than VND910 billion (US$38.5 million) for the implementation of the Cat Linh–Ha Dong urban railway project.

The disbursed public investment sourced from foreign borrowing was estimated at more than VND9 trillion in the first 11 months of the year, equivalent to only 26% of the plan, said an official from the Ministry of Finance.

Given the little room left for monetary policy to add stimulus to the economy, fiscal policy would be the engine of growth next year, according to Ho Sy Hung, vice chairman of the Commission for the Management of State Capital at Enterprises.

About VND9 trillion (US$382 million) of public investment capital from foreign sources has been disbursed in the first 11 months this year, accounting for only 26% of the allocated capital.

VOV.VN - Ho Chi Minh City, the most populous and larget economic centre in Vietnam, aims to achieve Gross Regional Domestic Product (GRDP) growth of 7.5 – 8% in 2023 – a target which is equivalent to the figure recorded in previous years but lower than 2022’s gains.

Prime Minister Pham Minh Chinh has issued a decision earmarking over VND147 trillion (US$6.39 billion) from the State budget for ministries, agencies and localities to carry out the socio-economic recovery and development programme.

VOV.VN - It remains imperative to roll out drastic measures aimed at fast-tracking the disbursement of public investment capital and the realisation of the socio-economic recovery and development programme, as well as three national target programmes.