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Vietnam spent $ 7.5 billion repaying principal and interest on loans

 

Budget deficit increased to 61,800 billion. The principal and interest payments reached 170.5 trillion ($ 7.5 billion) ...

According to the General Statistics Office, the total state budget revenue from the beginning of the year to 15/7/2017 was estimated at 584.6 trillion VND, equaling 48.2% of the yearly estimate.

In which, domestic revenue 462,600 billion, revenue from crude oil reached 24,600 billion, budget revenue from import and export reached 96,100 billion.

In particular, collecting environmental protection tax up to 20,400 billion, personal income tax reached 43,800 billion. The foreign-invested sector contributes VND 84,200 billion to the state budget and VND 95,000 billion to the SOE sector. Both sectors failed.

Total state budget expenditures from the beginning of the year to 15/7/2017 were estimated at VND 646,400 billion, equaling 46.5% of the yearly estimate, of which regular expenditures were VND 474,000 billion, interest payments were VND 60,100 billion .

Particularly, new development investment will reach VND101,400 billion, equal to 30.9% of the estimate for 2017. The repayment of principal debt from the beginning of the year to 15/6/2017 is estimated at VND101,400 billion, equaling 53.8% Math year The total principal and interest payments so far this year are about 170.5 trillion dong.

Thus, from the beginning of the year to budget deficit of about 61,800 billion, the lowest level of overspent in recent years. Prior to that, in 2016, the budget deficit was about 192,000 billion VND.

Notably, the low level of development spending is a factor that many experts and economists fear will affect the growth rate in the coming years.

Earlier, Prime Minister Nguyen Xuan Phuc approved the medium-term debt management program for the period 2016-2018 with the goal of public debt including government debt, government guaranteed debt and local government debt not more than 65% GDP.

The program targets specific borrowing at home and abroad to offset the state budget deficit in a gradual manner, of which budget deficit in 2016 is 5.4% of GDP, central budget deficit in 2017 about 3.38% of GDP and central budget overspending in 2018 is 3.3% of GDP.

Notably, in addition to the above target, the Government is also determined that the government debt balance is no more than 54% of GDP and the country's foreign debt does not exceed 50% of GDP.

The Government also decided to suspend all issuance of new government guarantees for domestic and foreign loans, and to review the list of programs and projects prioritized for the issuance of a Government guarantee for the construction of the limit The level of Government guarantee period 2016-2020 and annual, ensuring the debt security index within the limits approved by the National Assembly.

 

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