Gov’t plans to borrow around US$17 billion in 2018

VGP – The Government sets a target to borrow VND 384 trillion (around US$17 billion) this year, according to a decision recently signed by PM Nguyen Xuan Phuc.

April 23, 2018 6:59 PM GMT+7

According to the Asian Development Bank's recent forecast, Vietnamese economy may expand 7.1% in 2018.

Of the figure, the Government expects to borrow nearly VND 276 trillion from domestic sources.

The money is expected to spend on offsetting State budget deficit, performing debt repayment obligations, and refinancing.

Under the decision, the Government plans to put aside VND 256,769 billion to meet debt repayment obligations in 2018.

Earlier this year, the Government set growth goal of at least 6.7%. The economy expanded 7.38% between January-March period, the highest rate in the past decade.

According to the Asian Development Bank's recent report, the Vietnamese economy may grow 7.1%, one of the fastest-growing economies in Asia./.

By Quang Minh