Business

Government to borrow 15.05 billion USD in 2017

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. ​
Government to borrow 15.05 billion USD in 2017 ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA)– The Government plans to borrow 342.06 trillion VND (15.05 billion USD) thisyear, according to a borrowing and debt payment scheme recently approved byPrime Minister Nguyen Xuan Phuc.

The total includes243.3 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 foreignpreferential loans. Of the sum, 316.3 trillion VND (13.9 billion USD) will beused 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 hasassigned the Ministry of Finance to review the necessity and limit of theGovernment bond guarantee for the Vietnam Development Bank at over 25.14 trillionVND (1.06 billion USD).

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

The State Bank ofVietnam will supervise commercial foreign loans of businesses and creditinstitutions./. 

VNA
#Prime Minister #government #plan #borrow #debt #payment #State budget #loans #ODA #foreign investment #balance #government bond #bank #preferential loans #National Assembly #State Bank #businesses #credit institutions
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