Government to inject $7.5 bln for socio-economic recovery

The Government's proposal for the budget allocation list for the socioeconomic recovery development program, which set aside VND176 trillion ($7.5 billion)  for ministries, central agencies, and municipalities, was also approved by the Standing Committee in line with the Law on Public Investment.

According to Deputy Minister of Planning and Investment Tran Quoc Phuong, of the total, more than VND172.56 trillion ($7.3 billion) has been informed to ministries and agencies so far to accomplish 264 tasks and projects, 94 of which have investment procedures completed.

It will adjust the overall supply and demand of the economy through fiscal and monetary policies in a variety of sectors, including infrastructure, healthcare, labor, social welfare, and digital transformation.

Officials also discussed the unallocated VND932 billion ($40 billion) in the labor, social welfare, and healthcare sectors as well as the central budget projections for the ministries, localities, and government agencies for 2022.

Following a thorough discussion with the delegates, the remaining VND932 billion ($40 billion) in healthcare, social welfare, and labor Government proposed to the National Assembly Standing Committee to allocate permission for 3 projects in the field of transport.

The NA Standing Committee requested that the Government evaluate requests for budgetary allocation in this area from relevant ministries, departments, and localities.

Source: VnEconomy