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Vietnam Today

Jan-Jul foreign debt nears $1 billion

Released at: 15:19, 12/08/2015

Jan-Jul foreign debt nears $1 billion

MoF releases figures on foreign debt and State budget revenue and spending for July and first seven months.

by Hoai An- Le Tra

Vietnam’s total foreign debt stood at $172.6 million in July and the figure for the first seven months came in at $933.3 million, according to the Ministry of Finance (MoF).

The MoF signed nine loan agreements in July worth $1.1 billion and in the first seven months signed 31 for a total of $3.1 billion.

Disbursement of foreign loans stood at $3 trillion in July and $39 trillion for the first seven months. The government did not license any new government-guaranteed projects in July. In the first seven months only the La Son - Tuy Loan section of the Ho Chi Minh Highway project received new funding, of $50 million.

Total State budget expenditure in July was estimated at VND95 trillion ($4.5 billion) and VND645 trillion ($30.3 billion) in the first seven months, an increase of 8.1 per cent compared to the same period of 2014. Spending on socio-economic development, national defense and security, and administrative activities accounted for nearly 70 per cent.

Meanwhile, total State budget revenue in July was VND92.7 trillion ($4.3 billion) and VND544.6 trillion ($25.5 billion) in the first seven months, up 6 per cent year-on-year.

The State budget deficit was therefore estimated at $4.8 billion in the first seven months of the year.

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