The Government will borrow nearly VND969.8 trillion ($38.5 billion) in 2026, according to its latest debt plan unveiled on February 28.
The figure includes VND583.7 trillion for central budget to cover deficits, and over VND376 trillion for repayment of debts.
The Government was quoted by the Government News as saying that it will mobilize the funding through issuance of Government bonds, international bonds, official development assistance and concessional loans, and other lawful resources.
Meanwhile, local governments shall be allowed to borrow more than VND26 trillion and use nearly VND4 trillion to repay their debts this year.
The Government requests ministries, agencies and localities to speed up disbursement of public investment capital in a bid to raise the efficiency of State funding.
It also urges the Ministry of Finance to strictly control budget overspending at both central and local levels, formulate a project for issuance of international bonds and submit to competent authorities for consideration.
Public debt is forecast to reach 36-37 per cent of GDP by the end of 2026, while government debt will stand at 34-35 per cent of GDP and foreign debt is expected at 32-33 per cent of GDP.
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