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State budget investment capital allocated to key infrastructure projects

09:55 | 18/09/2021

VCN – The estimation of expenditure on development investment must comply with the Law on State Budget.

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State budget investment capital allocated to key infrastructure projects

According to Circular 61/2021/TT-BTC, the estimation of the expenditure on development investment from State budget prioritise to 2022 estimates for repaying debts of capital construction according to Clause 4 of Article 101 of the Law on Public Investment; projects which have been finished but have not been allocated sufficient capital, transitional projects completed in 2022; and projects using official development assistance (ODA) and concessional loans from foreign donors.

In addition, the State budget investment capital is allocated to key infrastructure development projects and works that create a driving force for socio-economic development, create breakthroughs in attracting investment from domestic and foreign private sector in the form of public-private partnership (PPP); compensates preferential credit interests and management costs; and provides charter capital for policy banks. Capital allocation for each task must be consistent with the progress of implementation and disbursement in 2022.

According to the State Budget Law, the total level of supportive capital for annual development investment from central government budget to local government budgets to implement key and large projects and programmes, especially those which have big impacts on local social – economic development must not exceed 30% of total expenditure on capital construction from the central government budget.

For foreign capital, allocation must be consistent with the contents of the Agreements signed with the donor; and is prioritised to projects that finish in 2022.

According to Circular 61, based on the revenue and expenditure on development investment from the revenue from rearrangement and handling of State-owned housing and land but has not yet settled; the amount paid to the State budget in previous years that has not been used in previous years and revenue estimates of from rearrangement and handling of State-owned houses and land in 2022, ministries, central agencies and local agencies shall make estimates of development investment expenditures from this revenue.

In addition, ministries and central agencies shall prepare separate reports on the implementation of housing and land arrangement plans, collection, payment and spending from this source until 2021; and housing and land arrangement plans in 2022; and estimates on revenue and payment to the State budget in 2022 and expenditure from this source according to the above contents, to send to the Ministry of Finance and the Ministry of Planning and Investment to report to the competent authority.

For estimates of expenditures on compensating for preferential credit interest and management costs; providing charter capital for policy banks and non-budget State financial funds; supporting for other policy beneficiaries under the Prime Minister's decision, the ministries and Government agencies shall base on the performance in 2021, Directive No. 20/CT-TTg dated July 23, 2021 of the Prime Minister on elaboration of socio-economic development plan and state budget estimate in 2022 and regulations of competent authorities on policies on investment credit and credit for the poor and other policy beneficiaries, and forecast changes in beneficiaries, policies and task, credit growth, loan balance, capital mobilisation, deposit and lending interest rates, etc. to build the state budget expenditure estimates in 2022 in accordance with the provisions of the State Budget Law, the Law on Public Investment and other documents.

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For non-State budget revenues of public service delivery units, the Circular stipulates and make estimates of development investment tasks according to current regulations for each field and submit to the superior to report the investment and financial agencies.

By Hoai Anh/ Huyen Trang