Huge reduction in State budget spending

With almost 1,970 State-funded construction projects delayed after thorough reconsideration, the State budget has saved almost 6 trillion VND so far this year, accounting for nearly 8 percent of the yearly plan.

Ministry of Planning and Investment (MPI) Spokesman Le Van Hoc said at a press briefing in Hanoi on July 23 that investments coming from Government bonds have been cut or re-allocated by some 10 trillion VND.

Inspections conducted in 15 State-owned industrial groups and corporations have shown that they have self-cut investments worth almost 29.37 trillion VND in some 1,000 projects.

The MPI called on ministries, industries and local administrations to stop or delay the construction of unnecessary projects to save money for those promising completion within this year.

VNA

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