Deputy PM: Economic recovery package does ‘caution to avoid negligence’

Discussing socio-economics on the morning of June 2, many National Assembly deputies continued to express their impatience when economic recovery package So far has not been disbursed. It is said that the policy of the economic recovery package was approved “in the most urgent way” so it also needs “special determination” to create resources to support businesses and people to recover after the epidemic.

Deputy Prime Minister Le Minh Khai talks about the progress of Resolution No. 11

Explaining to the National Assembly about the slow disbursement of the economic recovery package, Deputy Prime Minister Le Minh Khai said that by June 2, 11 out of 14 policies and mechanisms of the economic recovery program had been issued. Some documents and policies have been promulgated slowly because the programs and policies in the economic recovery support package are very complicated and need coordination between ministries and branches. Currently, there are 3 guiding documents being made by the units.

“A number of policies that have been implemented before have had bad jobs and still have problems, so ministries, branches and the Government are very careful to avoid negligence and avoid future responsibilities when organizing implementation because of the number of very big money,” said Deputy Prime Minister Le Minh Khai.

In addition, he said, this task is new, not included in the long-term and regular plan, so “there have also arisen many jobs that ministries and branches have not been proactive in”.

Regarding the expenditures of the economic recovery support package of nearly 350,000 billion VND, the Deputy Prime Minister said that it is necessary to analyze and disassemble to conclude “slow or not”.

Accordingly, about 2 billion USD (equivalent to 46 trillion VND) is taken from the Legal Financial Fund to buy vaccines and medical equipment. The epidemic is now under control, this money will be used depending on the upcoming situation, if necessary, it can be spent immediately.

The remaining amount is about VND 301,000 billion, divided into two main expenses of VND 125,000 billion (including expenses for tax exemption and reduction, supporting employees to rent houses, and 2% interest rate support via commercial banks) and 134 trillion VND. for infrastructure investment.

The implementation of policies related to spending on tax exemption and reduction, Mr. Le Minh Khai assessed, has been done very quickly and disbursed promptly. For example, 18 days after Resolution 43 on the National Assembly’s economic recovery program was promulgated, the Government issued a Decree to reduce the value-added tax of 2%. Or the reduction of excise tax on cars and some tax reductions of about VND 6,000 billion, will be completed by the end of this year.

However, about 6,600 billion VND to support workers to rent houses, so far, nearly 2 billion has been disbursed.

Regarding the interest rate support through commercial banks of VND 40,000 billion, Mr. Khai said it was slow because of stricter implementation and learned from the implementation of the interest rate support package through banks in 2008-2009. This makes the implementation of this policy smooth and convenient.

Referring to the delay in spending for infrastructure investment (134,000 billion), many delegates were worried, Mr. Khai admitted that it was slow because it had to comply with the Law on Public Investment, because normally public investment projects from the time of commencement of public investment projects. From the beginning of the policy to the time it is put into the plan, it usually takes about 1.5 years.

In conclusion, he admitted that the disbursement of the economic recovery package was slow, but Mr. Khai believed that “this package will perform well in the coming time”.

Mr. Minh