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Gov't to borrow around US$28 billion in 2024

VGP - VGP – The Government has approved a plan to borrow up to VND676,057 billion (over US$28 billion) in 2024.

Posts Huong Giang

April 01, 2024 10:56 PM GMT+7

The main sources will be bond issuances, official development assistance and concessional loans from foreign partners.

The Government plans that repayments will be VND453,990 billion this year.

In the 2024-2026 period, the Government plans to borrow around VND1,862.2 trillion while repayments are about VND1,102.8 trillion.

Viet Nam's public debt dipped to 37 percent of the country's GDP in 2023, much lower than the rate of 60 percent capped by the National Assembly.

With the adoption of the new borrowing plan, the country's public debt will increase to 30-40 percent of the GDP.

The Government sets target to accelerate economic growth to 6-6.5 percent this year from 5.05 percent in 2023. In the first quarter, the economy expanded 5.66 percent – the higest rate over the same period since 2020./.