Promoting disbursement of public investment capital: Ensuring sustainability and stability for the economy

At the Government's regular press conference on the afternoon of October 5, Deputy Minister of Finance Nguyen Duc Chi answered reporters about the issue of balancing disbursement speed with macroeconomic stability and inflation control.

According to Deputy Minister Nguyen Duc Chi, the public investment capital plan assigned by the Government in 2025 is more than 1,112 trillion VND. The estimated disbursement from the beginning of the year to September 30, 2025 is 453,300 billion VND, reaching 51.2% of the plan assigned by the Prime Minister . Compared to the same period in 2024 (disbursement of 307,837.7 billion VND, reaching 45.3%), it is 5.9% higher in proportion and 145,462.4 billion VND higher in absolute number.

According to the leader of the Ministry of Finance, in the context of a complex, unpredictable, and potentially risky global and regional situation, public investment plays an increasingly important role in stabilizing the macro -economy and contributing to achieving the set growth target for 2025. The target of disbursing 100% of public investment capital has been strongly directed by leaders at all levels since the beginning of 2025.

To achieve the goal, the Ministry of Finance has periodically synthesized and reported to the Government and the Prime Minister on the disbursement of public investment capital, analyzed difficulties and causes, and proposed tasks and solutions to promote the disbursement of the 2025 capital plan.

Deputy Minister of Finance Nguyen Duc Chi at the Press Conference. Photo: Duc Minh.

The Ministry of Finance believes that, for macroeconomic stability, inflation control, and public debt, it is expected that when public investment capital is disbursed on time, cash flow will flow into the economy, creating momentum to promote production and business, contributing to maintaining GDP growth.

On the contrary, if disbursement is slow, it will cause capital to be frozen, reduce the efficiency of budget use, negatively affect the progress of infrastructure projects, and waste resources. Disbursing 100% of the assigned capital plan for 2025 is a very important political task, not only playing a role in stimulating production, business, consumption, creating jobs and ensuring social security in the short term, but also contributing to promoting the construction and completion of necessary socio-economic infrastructure to improve competitiveness, support production and business activities of people and enterprises, and attract other sources of social investment capital.

Accelerating the disbursement of public investment capital also contributes to supporting liquidity for the commercial banking system, stabilizing the monetary market, and supporting capital mobilization through the issuance of government bonds.

Panorama of the press conference. Photo: Duc Minh.

For inflation control, The 2025 public investment plan has been developed based on a comprehensive assessment of socio-economic development indicators for 2025, including inflation targets. Rapid disbursement helps increase aggregate demand reasonably, thereby supporting inflation control and avoiding supply-demand imbalance.

In the process of implementing the socio-economic development plan for 2025, the Government and the Prime Minister always prioritize inflation control within the scope set by the National Assembly with the target of consumer price index (CPI) growth in 2025 below 4.5%. The results of the first 8 months of the year show that price management has been proactively and flexibly implemented with many synchronous solutions, the average CPI in the first 8 months of the year increased by 3.24% over the same period, core inflation increased by 3.19%, under control and lower than the target of 4.5% set by the National Assembly and the Government, contributing to stabilizing the macro-economy and people's lives.

Regarding public debt, according to the 2025 Public Debt Loan and Repayment Plan and the 3-year Public Debt Management Program for the 2025-2027 period, capital mobilization in 2025 is fully implemented as planned (in which disbursement of public investment capital from foreign sources in the 2025 State budget estimate is expected to reach 100%), public debt safety indicators are expected to be at the end of 2025 at: Public debt balance/GDP about 35-36%; Government debt balance/GDP about 33-34%; Direct debt repayment obligations of the Government/total state budget revenue about 19-20%. The above indicators are all much lower than the public debt safety ceiling approved by the National Assembly in Resolution No. 23/2021/QH15.

Thus, promoting disbursement of public investment capital not only helps achieve short-term growth targets, but also ensures long-term sustainability and stability for the economy.

Source: https://baodautu.vn/thuc-day-giai-ngan-von-dau-tu-cong-dam-bao-tinh-ben-vung-on-dinh-cho-nen-kinh-te-d403094.html