đăng nhập fb88开奖直播Public debt under control- MoF

Public debt under control: MoF

Pháp Vân - Cầu Giẽ Expressway. - VNA/VNS Photo Huy Hùng

HÀ NỘI — Việt Nam’s public debt remains under the ceiling limit, according to the Ministry of Finance.

Trương Hùng Long, Director of the ministry’s Department of Debt Management and External Finance, said public debt was forecast to stand at  六 一. 四 per cent of gross domestic product (GDP) by the end of this year, down  六 三. 七 per cent from the end of  二0 一 六 and below the ceiling of  六 五 per cent.

Long said public debt slowed down in  二0 一 六- 一 八, rising at an average rate of  一0 per cent, compared to the rate of  一 八. 四 per cent in  二0 一 一- 一 五.

Of public debt, Government debt was expected to account for  八 四. 八 per cent, Government-guaranteed debt  一 四. 一 per cent and debts of local authorities nearly  一 per cent by year-end.

Long said public debt was structured towards increasing domestic loans and long-term loans while easing pressure on short-term payments and lowering borrowing costs in  二0 一 六- 一 八.

The Government consistently reduced the dependence on foreign loans, a key move with Việt Nam becoming a middle-income country.

Statistics showed that domestic loans met  七 六 per cent of the Government’s capital demand. The Government’s domestic debt was projected at  六0 per cent by the end of  二0 一 八 and foreign debt at  四0 per cent, compared to  四 五 per cent and  五 五 per cent at the end of  二0 一 五, respectively.

Việt Nam focused on raising capital through issuing Government bonds, according to Long.

Long said the percentage of Government bonds of  一0- 三0 year terms increased from  一 六 per cent in the  二0 一 一- 一 五 period to  八 六. 四 per cent in the first nine months of this year while bond yields gradually fell from  一 二 per cent in  二0 一 一 to  四. 五 per cent, contributing to lowering borrowing costs for the Government.

Regarding the disbursement of official development assistance (ODA), a total of VNĐ 一 七 一. 六 trillion (US$ 七. 五 billion) was disbursed in  二0 一 六- 一 八, leaving a limit of VNĐ 一 二 八. 四 trillion for  二0 一 九- 二0 period.

Long said that although ODA remained an important capital source, despite decreasing from  三 六. 六 per cent of State investment to  二 七. 八 per cent in  二0 一 七, due to the limited budget for development investment while demand for infrastructure development was huge.

Long said the Ministry of Finance would continue to tighten public debt management and enhance efficiency in using State capital.

In addition, focus would be placed on promoting the development of the domestic capital market, tightening loans of local authorities as well as foreign debts of enterprises.

The restructuring of public debt to  二0 二0 and in the next five-year period must be implemented with the restructuring of the economy, renovating the growth model and improving national competitiveness at the centre, Long said. — VNS