Vietnam spends over US$47 million per day paying debt

The Vietnamese government paid VND99.12 trillion (US$4.27 billion) on debt service in the first quarter of 2019, equivalent to VND1.1 trillion (US$47.44 million) per day, according to the Ministry of Finance (MoF). 

Vietnam spends over US$47 million per day paying debt, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news

Overview of the meeting. Source: MoF. 


Upon breaking down, the government spent VND84.08 trillion (US$3.62 billion) on paying domestic debts and VND15.04 trillion (US$648.66 million) on foreign debts, said Ngo Chi Tung, MoF’s deputy chief of the Office, at a conference on April 5. 

Overall, state budget revenues in the January – March period reached VND381 trillion (US$16.43 billion), up 13.2% year-on-year, Tung added.

Among the figures, domestic revenue for the period stood at VND315.4 trillion (US$13.6 billion), crude oil exports reached over VND12 trillion (US$517.54 million).

Additionally, state budget revenue from trade activities was estimated at VND80.8 trillion (US$3.48 billion), up 17.6% year-on-year. 

Meanwhile, Vietnam's state budget expenditures in the first quarter totaled VND315.6 trillion (US$13.61 billion), up 7.6% year-on-year. Of the total, regular spending reached VND237.2 trillion (US$10.23 billion), up 5.3% year-on-year or 23.7% of the year’s estimate, and expenditure for development investment soared to VND46.7 trillion (US$2 billion), representing an increase of 32.4% year-on-year and equivalent to 10.9% of the year’s estimate.  

This resulted in a budget surplus of VND66 trillion (US$2.84 billion) in the first quarter, indicating a sharp improvement from a budget surplus of VND18.48 trillion (US$797.02 million) in the same period of 2018. 

Moreover, the government issued government bonds worth VND69.5 trillion (US$3 billion) to cover principal repayments with maturity terms averaging 12.35 years and interest rate of 4.91% per annum. 

Hanoitimes 

Vietnam spends over US$47 million per day paying debt, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news
 
*
*
*
  Send