The Government plans to borrow maximum of VND676,057 billion and repay debt of VND453,990 billion in 2024

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In 2024, the Government allows to borrow maximum of VND676,057 billion. Photo: Internet

Loan and Public debt payment plan in 2024, the Decision states that the Government’s borrowing plan is a maximum of VND676,057 billion. The loans to balance the central budget is up to a maximum of VND659,934 billion; borrowing for re-lending is about VND16,123 billion.

The Government's loan sources are mobilized from issuing Government bonds, ODA loans, and foreign preferential loans; or other legal financial sources.

In 2024, the Government's debt repayment is about VND453,990 billion, of which the Government's direct debt repayment is not more than VND395,874 billion, and debt repayment of on-lending projects is about VND58,116 billion.

Regarding Government-guaranteed loans, the Decision states that the maximum bond issuance guarantee level for the Vietnam Development Bank is VND 1,160 billion, equal to the principal repayment of Government-guaranteed bonds in 2024. In 2024, the Government-guaranteed bonds will be not issued by Vietnam Bank for Social Policies.

The specific bond issuance guarantee level for the Vietnam Development Bank is determined on the basis of the Ministry of Finance's appraisal for the application for Government-guaranteed bonds under the provisions of Decree No. 91/ 2018/ND-CP.

Regarding guarantees for domestic and foreign loans, the decision provides that no Government guarantee limit will be arranged in 2024 because the projects do not need to withdraw capital and only repay debt.

For the 3-year public debt management program for 2024 - 2026, the total maximum loan amount of the Government in the period 2024 - 2026 is about VND1,862.2 trillion, of which loans to the central budget are about VND1,818.3 thousand billion, loan for re-lending is about VND43.9 trillion.

The Government's total debt repayment in the period 2024 - 2026 is up to VND1,102.8 trillion, of which the direct debt repayment is about VND976.4 trillion and debt repayment for re-lending loan is about VND126.4 trillion.

The decision sets out the requirement to proactively arrange resources to fulfill the Government's debt repayment obligations, avoiding overdue debts that affect the Government's international commitments.