Government plans to pay VND209 trillion debt in 2014

The government will be relieving VND 208,883 billion (US$ 9.92 billion) in debt this year.

VND 159.7 trillion are from domestic debts. The state budget will pay VND 92,232 billion. New loans will be due.

VND 49.2 trillion are from foreign debts. The state budget spent VND 26,427 billion on projects and VND 22,773 on loans.

The government will get new domestic loans of VND367 trillion this year, according to the plan. VND197 trillion will reimburse the State Budget’s expenditure, VND100 trillion for bond issue and VND70 trillion for due debts.

The Government will act as a guarantee for the Vietnam Development Bank to get maximum domestic loans of VND40 trillion, Vietnam Bank for Social Policies VND15.49 trillion and national key projects VND15 trillion.

The Government’s guarantee limits for businesses to get foreign loans will be US$2.8 billion. Businesses and credit institutions will be permitted to get maximum US$3.8 billion foreign loans.

Prime Minister also instructed relevant agencies to examine Build-Operate-Transfer (BOT) projects, large Foreign Direct Investment projects and infrastructure projects. The government has pledged to guarantee foreign investment and loans.

The examination will to ensure the national foreign debt to not exceed 50 percent of Gross Domestic Product by 2020.

By Lam Nguyen – Translated by Hai Mien

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