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Government to borrow 384 trillion VND in 2018

Prime Minister Nguyen Xuan Phuc has signed a decision on the Government’s plans to borrow and pay loans as well as limits of loans in 2018.
Government to borrow 384 trillion VND in 2018 ảnh 1Illustrative Image (Source: VNA)

Hanoi (VNA)– Prime Minister Nguyen Xuan Phuc has signed a decision on the Government’splans to borrow and pay loans as well as limits of loans in 2018.

Under Decision437/QD-TTg, the PM approved the plan of borrowing 384 trillion VND (16.89billion USD), with 275.97 trillion VND in domestic loans and 108.03 trillionVND in foreign loans.

Of the total, 341.77trillion VND (15.03 billion USD) will be used to balance the State budget, 195trillion VND (8.58 billion USD) for offsetting budget overspending, 146.77trillion VND (6.45 billion USD) for repaying principal, and 42.23 trillion VND (1.85billion USD) for relending.

Meanwhile, theGovernment will pay 256.769 trillion VND (11.29 billion USD) worth of debts,along with 18.56 trillion VND paid for re-borrowing projects.

The PM also approvedlimits of loans guaranteed by the Government in 2018. Accordingly, domesticbonds issued by the Vietnam Development Bank will not be higher than 24.43trillion VND (1.07 billion USD), and that of the Vietnam Bank for SocialPolicies will be 9.67 trillion VND (425.48 million USD) at maximum.

The limit of Government’sguaranteed loans for projects is 2 trillion VND (88 million USD), while foreigncommercial loans of enterprises with Government’s guarantees is 700 millionUSD. The maximum commercial loans of enterprises and credit organisations willbe 5 billion USD.

At the same time, loanlimit of local governments will be 21.514 trillion VND (946.44 million USD).

The Ministry ofFinance was assigned to implement the borrowing and debt payment plans.-VNA
VNA
#Prime Minister Nguyen Xuan Phuc #debts #Government debts #limits of loans #Government’s plans to borrow loans #Vietnam #Vietnam news #Vietnam News Agency
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