NA passes Law on Public Debt Management
VGP – With 85.74% of votes, the National Assembly passed the Law on Public Debt Management on November 23 in Ha Noi.
The law stipulates regulations on public management, including lending activities, and the use and payment of loans. Public debt includes central Government debt, Government-guaranteed loans and local government debt.
The law is applied to agencies, organizations and individuals related to lending activities, the use and payment of loans and public debt management.
Under the law, the State manages public debts and monitors the work of agencies, organizations and individuals involved in public debt. The State will also control public debt safety to ensure the nation’s financial sustainability and macro-economic stability.
The National Assembly, People’s Councils and Viet Nam Fatherland Front will supervise the enforcement of the public debt management law which come into force on July 1, 2018./.
By Khanh Phuong
