Public debt management plan for 2021 – 2023 period approved
VGP - The Prime Minister has just approved Public Debt Management Plan for the 2021 – 2023 period.
Under the program, the Government’s total borrowing over the next three years will be around VND 1,738.4 trillion (US$75.8 billion), of which VND1,604.4 trillion will go to the central budget.
The budget spending deficit of local governments is limited at 0.2 percent of GDP while their debt repayment obligation is around VND18.4 trillion.
Regarding foreign commercial loans by businesses and credit organizations, the growth rate for short-term debt financing is capped at 18-20 percent per year and long-term loans are around US$6.35-7 billion per year.
For 2020, the Government is expected to borrow more than VND624 trillion, including VND527,357 trillion from domestic lenders and VND96,864 trillion from foreign sources.
Of the figure, VND318.8 trillion would be used to offset overspending, VND260.9 trillion for repaying debts and VND4.4 trillion for refinancing.
The Government has to repay debts worth VND394,506 billion this year./.
By Anh Minh
