Illustrative image (Source: VNA)
Hanoi (VNA) – The Government plans to borrow 342.06 trillion VND (15.05 billion USD) this year, according to a borrowing and debt payment scheme recently approved by Prime Minister Nguyen Xuan Phuc.

The total includes 243.3 trillion VND (10.7 billion USD) in domestic loans and 98.76 trillion VND (roughly 4.35 billion USD) in official development assistance (ODA) and foreign preferential loans. Of the sum, 316.3 trillion VND (13.9 billion USD) will be used to balance the State budget.

Under the scheme, the Government will spend 260.15 trillion VND (11.45 billion USD) on debt repayment.

The PM has assigned the Ministry of Finance to review the necessity and limit of the Government bond guarantee for the Vietnam Development Bank at over 25.14 trillion VND (1.06 billion USD).

The Ministry of Planning and Investment was assigned to allocate infrastructure investment using ODA and preferential loans within the estimate of 60 trillion VND (2.64 billion USD) as approved by the National Assembly.

The State Bank of Vietnam will supervise commercial foreign loans of businesses and credit institutions./.