Gov’t to borrow over US$15 billion in 2017

VGP - The Government plans to borrow VND 342,06 trillion (more than US$15 billion) this year, according to a scheme approved recently by Prime Minister Nguyen Xuan Phuc.

The total includes VND 243,3 trillion in domestic loans and 98,76 trillion in official development assistance and foreign preferential loans.

The Government will spend nearly VND 316 trillion of out the total figure to finance budget spending, repay debts and re-lend to inferior levels.

Under the scheme, the Government will spend some VND 260 trillion VND (US$11.45 billion) on debt repayment in 2017.

The Government chief tasked the Ministry of Finance to review the necessity and limit of the Government bond guarantee for the Viet Nam Development Bank at over VND 25,14 trillion.

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

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

By Ngoc Van

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