Government's debt repayment plan in 2017

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Illustrative photo.

Specifically, the Prime Minister approved the Government's plan for 2017 with total loans of 342,060 billion vnd, including domestic loans of 243,300 billion vnd, ODA and foreign loans of 98,760 billion vnd. In particular, loans for State budget balance were 316,300 billion vnd (loans to offset the deficits were 172,300 billion vnd and loans to repay were 144,000 billion vnd); and loans to re-lend were 25,760 billion vnd.

The Prime Minister also approved the Government's debt repayment plan in 2017 with a total amount of 260,150 billion vnd. In particular, Government's direct debt repayment in 2017 was 242,900 billion vnd; and repayment of the re-lending projects reached 17,250 billion vnd.

The Government-guaranteed long-term and medium-term commercial loans of enterprises and credit institutions by self-borrowing in 2017 included: Domestic issue limit of Government bonds guaranteed by Vietnam Bank for Social Policies was up to 9,250 billion; the limit of guaranteed domestic borrowing (net capital withdrawal) guaranteed by the Government for key national projects was 8,000 billion vnd; the limit of foreign commercial loans of enterprises and credit institutions guaranteed by the Government was $US 700 million; the limit of foreign commercial loans of enterprises and credit institutions by self-borrowing method was up to $US 5,500 million and the loan limit of local authorities was up to 23,857 billion vnd.

The Prime Minister has assigned the Ministry of Finance to review the need and limit of the Government of Vietnam to issue Government Bonds based on the Vietnam Development Bank (VDB) with a total amount of 25,145 trillion vnd in accordance with the restructuring guidelines of VDB, the Ministry of Finance to submit to the Government in the coming time.

In addition, the Ministry of Finance shall report to the Government to report to the National Assembly on budget estimates for ODA loans, foreign loans for State budget support, and ability to implement and disburse quickly for 2017 in the case of exceeding the approved cost estimate.

The Prime Minister has also assigned the Ministry of Planning and Investment to distribute the capital construction investment of programs and projects sponsored by ODA, preferential loans which have not been allocated in the budget of 60,000 billion vnd, report to the Government to report to the National Assembly in the case of disbursement of ODA, preferential loans in 2017 for capital construction in the State budget balance in excess of 60,000 billion vnd.

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The Prime Minister has also assigned the State Bank to supervise the borrowing of foreign commercial loans of enterprises and credit institutions in the form of self-borrowing and self-repayment within the approved limits.