The government’s report to the National Assembly on the 2019 public debt and 2020 budget shows that it plans to mobilize VND460 trillion worth of capital, mostly to offset the deficit and repay principal.
At the government's September working session, the Prime Minister said the socio-economic performance in the first nine months was better than predicted and better than the same period last year.
The government has set targets for public debts, government debts and foreign debts to ensure they are within the limit and lower than the national financial plan in the 2016 – 2020 period.
The Government has proposed borrowing VND459.5 trillion (US$19.9 billion) next year to make up for the State budget deficit, increasing regular expenditures and social insurance debts.
Collection of the State budget between 2016 and 2020 is expected to meet the target of 6.8 quadrillion VND (nearly 293 billion USD), the Ministry of Finance (MoF) reported on October 21.
