VN government borrows US$16 billion in 9 months
According to the Finance Ministry’s latest report, by the end of September 2016 the Vietnamese government mobilized more than $11 billion through issuing government bonds, equivalent to nearly 89% of the goal set for 2016.
In the past nine months, Vietnam also signed a new loan agreement with France worth $58.4 million, bringing the total amount of foreign loans during this time to around $4.88 billion.
Generally, foreign debt and capital raised from government bonds during this period totals $16 billion, nearly double the figure of $8 billion of the same period last year. In 2016 Vietnam plans to borrow about $20 billion to balance the budget.
The Ministry of Finance said by September 25, the government paid debt of nearly $7.9 billion, including $6.2 billion for domestic debt and the remaining for foreign debt. This year Vietnam plans to spend $12 billion to pay off debts.
Also in this report, the Ministry of Finance said the State budget revenue in nine months reached VND718.3 trillion, or 70.8% of the yearly plan. Meanwhile, expenditures amounted to VND870.5 trillion.
The 9-month budget deficit is estimated at VND152.2 trillion, or nearly 60% of the yearly estimate.
