NA irregular meeting discusses socio-economic recovery, public investment plans

August 29, 2022 - 20:23
The goal is to achieve GDP growth of the entire NA’s tenure of 6.5 to 7 per cent. 
National Assembly Chairman Vương Đình Huệ (centre) presides over the meeting on Monday. — VNA/VNS Photo Doãn Tấn

HÀ NỘI — The National Assembly’s Standing Committee gathered on Monday for an irregular meeting, which discussed funding for the socio-economic recovery and development programme, and the State budget allocation for the medium-term public investment plan in the 2021 - 2025 period. 

Presiding over the meeting, NA Chairman Vương Đình Huệ said that the goal of Resolution No 43/2022/QH15 on fiscal and monetary policies is to support socio-economic recovery and development. 

It will adjust the overall supply and demand of the economy through fiscal and monetary policies in various industries, in particular infrastructure, healthcare, labour, social welfare and digital transformation.

The goal is to achieve GDP growth of the entire NA’s tenure of 6.5 to 7 per cent. 

Officials also discussed the unallocated VNĐ932 billion of remaining funds in the healthcare, social welfare and labour sectors; and the 2022 central budget estimates of ministries, localities and government departments. 

Several projects using funding from the Resolution have been approved and implemented, such as the four key national projects, which are the second phase of the North-South Expressway’s eastern section; the first phase of Châu Đốc - Cần Thơ - Sóc Trăng Expressway; Khánh Hòa - Buôn Mê Thuột Expressway; and Biên Hòa – Vũng Tàu Expressway. 

Following the reports from the Government and the NA’s Committee on Finance - Budget, Huệ said that the Standing Committee agreed with the budget allocation criteria based on Resolutions No 43/2022/QH15 and 29/2021/QH15, with the latter on the medium-term public investment plan. 

The Standing Committee also approved the Government’s proposal on the budget allocation list in the socio-economic recovery development programme, which set out VNĐ176 trillion for ministries, central agencies and localities according to the Law on Public Investment. 

Among these, VNĐ147.1 trillion has been earmarked for 94 projects and missions.

All of these missions and projects have completed the procedures needed for investment, and are eligible to receive funding from the overall programme. 

For the remaining 169 projects, which are expected to take up VNĐ27.9 trillion, that have not yet completed the required processes, the NA Standing Committee directed the Government to conduct assessments according to regulations as stated in Resolution No 43/2022/QH15.

After these projects meet the requirements, the Government will need to report to the NA Standing Committee for approval, before receiving budget allocation from the prime minister. 

Following thorough discussion with the delegates, the remaining VNĐ932 billion in healthcare, social welfare and labour will continue to be invested in this sector. 

The NA Standing Committee asked the Government to review proposals of relevant ministries, departments and localities for budget allocation in this field. — VNS