Over 14 percent of State budget revenue earmarked for debt payment
About 14.7 percent of the State budget revenue, or 150 trillion VND (6.7 billion USD), will be spent on paying debt in 2016, the Ministry of Finance (MoF) revealed on March 22.
Hanoi (VNA) – About 14.7 percent of the State budget revenue, or 150 trillion VND (6.7 billion🌱 USD), will be spent on paying debt in 2016, the Ministry of Finance (MoF) revealed on March 22.
The MoF reported that about 45 billion USD in official development assistance (ODA) and concessional loans was promised from 2005 to 2015. One-third of that sum was channeled into the State budget which in turn was allocated for certain programmes and projects. Another one-third was earmarked for local programmes and projects, while the remaining served as loans for the State’s key projects.
Foreign ODA and preferential loans for development investment have given a facelift to Vietnam’s socio-economic infrastructure. They were focused on such key areas as transport, energy, water supply and drainage, environment, climate change and poverty alleviation, the ministry noted.
However, up to 92.2 percent of local programmes’ and projects’ capital was totally sponsored by the State budget, only 7.8 percent was loaned by the budget. That has led to an array of problems such as the ineffective spending of loans, projects’ sluggish progress and the augmentation of investment capital.
The State budget’s long-standing sponsorship for local projects has encouraged the reliance on the State and discouraged projects’ managers from using the provided money in a frugal and effective manner.
Truong Hung Long, Director of the MoF’s Department of Debt Management and External Finance, said Vietnam is likely to no longer benefit from ODA loans from May 2017, but have to mainly use loans with concessional terms. It will gradually have to receive commercial loans.
Regarding already borrowed ODA, the debt payment deadlines might be shortened by half or interest rates can be raised to 2 – 3.5 percent, he noted.
To capitalise on foreign loans, he asked State agencies to focus ODA capital on critical fields and projects and reduce the State budget’s provision. Localities with good financial strength should share the debt burden with the State budget. Meanwhile, projects that can be financed by other sources should call for non-State funding.
The official also urged for enhanced transparency in the management and use of public loans, with more of a sense of responsibility by the parties concerned in loan management and use.-VNA
Vietnam’s total outstanding public debt was equivalent to 56.3 percent and 54.9 percent of its GDP in 2010 and 2011 respectively, according to Bulletin No. 1 recently issued by the Ministry of Finance.
The country’s external debt was equal to 42.2 percent of GDP in 2010 and 41.5 percent of GDP the following year. Outstanding Government debts are 44.6 percent and 43.2 percent of GDP.
A finance ministry official has refuted the figure of public debt in 2014 as given by the Policy and Development Institute, saying that the method of calculation is not in line with regulations.
As of June 17, Ca Mau province had achieved its target of supporting the construction and renovation of 4,400 homes, with a total budget of over 235 billion VND (about 9 million USD).
Chairman of the Vietnam Journalists’ Association (VJA) Le Quoc Minh has called for technology to be leveraged not to replace identity, but to enhance it—allowing Vietnamese journalism to reach both local and global audiences.
In recent years, with strong support from the Party and State, and building on its tradition as a heroic news agency, the VNA has not only actively participated in OANA but also proactively proposed various ideas for cooperation, helping shape a fresh image of effective media collaboration in the digital era, said VNA General Director Vu Viet Trang.
The education sector has been one of the foundations playing a vital role in deepening Vietnam – New Zealand ties, said Prof. Damon Salesa, Vice-Chancellor of the Auckland University of Technology (AUT).
Tien Giang province has addressed the housing needs of 608 poor, near-poor, and policy-beneficiary families facing housing difficulties. Of these, 370 houses were newly constructed while 238 underwent major renovations.
Dr Pham Minh Hung from the University of Economics and Business under Vietnam National University, Hanoi, said the fixed-term contract mechanism is a correct step, liberating the entire system from traditional constraints which have long stood in the way of innovation.
The partnership will focus on studying and recommending LRT routes that connect the city’s transport network with urban development zones, industrial parks, and TOD areas. The research will cover Thu Dau Mot city and surrounding areas, with completion scheduled before August 15, 2025.
Media must not only serve as a channel for information but also act as a vanguard in shaping public opinion, combating misinformation, upholding the Party’s ideological principles, and reinforcing unity between Vietnam and Laos.
In Vietnam, the voluntary blood donation movement was first launched on January 24, 1994. In 2008, the Prime Minister established the National Steering Committee for Voluntary Blood Donation.
Currently, 20 Vietnamese citizens remain in Iran, including embassy staff and personnel. All are safe, mentally stable, and in regular contact with the embassy.
A VietnamPlus survey of 764 young people shows that 83.9% of Gen Z use smartphones to read news, only 12% use computers, and the rest access content via tablets.
GVB Startup 2025 attracted the participation of nearly 150 individuals and organisations from across Vietnam. The event seeks to promote bold and ambitious startup ideas and projects, contributing to the future of global innovation, and supporting startups through the provision of resources, networking opportunities, and market insights.
AI could not replace human judgment in verifying information and sensitive political events, and that humans remain the final gatekeepers of content, said Leonid Kovachich, head of the Asian department at Sputnik's international broadcasting division.
A veteran journalist of Argentina has praised the modern evolution of Vietnam’s press, which now serves a dual purpose: introducing Vietnam to the world while bringing global perspectives to domestic audiences.
The court announced that Quyet had submitted a written request to be tried in absentia, citing serious health issues. According to an official statement from Hospital 19/8, the defendant is suffering from multiple illnesses, experiencing fatigue and shortness of breath, with doctors warning of a “very high risk of death.”
A senior Party official highlighted the VNA’s consistent role over the past eight decades, noting that it remains a mainstream, uninterrupted, timely, accurate, and authoritative source of news that helps shape public opinion, strengthen public trust, and safeguard the ideological foundation of the Party.
Dr. Kobelev, born in 1938 in Ulyanovsk, was among the first Soviet scholars to specialise in Vietnam. As a former TASS correspondent during the war in Vietnam, he worked closely with Vietnamese institutions and later helped found Russia’s Centre for Vietnamese and ASEAN Studies.
Illustrative photo (Source:VNA)
