HCMC – A National Assembly (NA) deputy has proposed extending the economic recovery and development program until 2024-2025.

Le Quang Manh, new head of the NA Finance and Budget Committee, said public capital disbursements were slower than planned while the program would end after six months, putting a strain on disbursement.

He made the statement during the fifth plenary session of the 15th NA that opened on May 22 in Hanoi.

At the meeting, the Government asked the NA to consider allocating capital to eligible projects.

The committee agreed with the Government’s proposal, saying the program has a budget of VND301 trillion, but merely VND87.3 trillion has been disbursed by the end of April.

It also urged the Government to disburse capital as prescribed and on time.

The economic recovery and development program was launched last year to prop up the economy as it had been badly affected by the fourth wave of the Covid-19 pandemic.

The program aims to help businesses and households overcome difficulties and expand development investment.