Draft Law on Public Debt Management

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Public debts under this Law comprise Government debts, Government-guaranteed debts and debts of local administrations.

The draft Law stipulates debt safety norms and strategies as well as contents on public debt management, including programs and plans on controlling public debts, risk management, public debt supervision, management of Government guaranty, management of debts of local administration, accounting, auditing, evaluating and announcing information on public debts and rights and tasks of agencies, organizations and individuals related to public debt management and use.  

Debt safety norms

Debt safety norms are the limits for the public debts, Government debts, national foreign debts against GDP and payment of government debts against total State budget revenues.

Debt safety norms include public debts against GDP, national foreign debts against GDP and responsibilities of the Government’s payment of debts against the annual State budget revenues.

The five-year medium-term debt borrowing and payment is identified during the process of establishing and realizing the five –year socio-economic development plan, five-year financial plan and five-year medium-term public investment plan.

The main contents of the five-year medium-term debt borrowing and payment consist of the overall goal, specific goals, public debt, Government debt and national foreign debt norms, orientations on mobilization, allocation, use and payment of public debts as well as key solutions to ensuring public debt safety and sustainability.

By Thuy Dung