The National Assembly Standing Committee gave opinions on the draft law on public debt management (revised) on March 20 in Hanoi.
The 8th meeting of the National Assembly (NA)’s Standing Committee opened on March 14 with an agenda full of important contents for the third session of the 14th NA.
The Ministry of Finance has announced that the maximum level of Government guarantees for a programme or project has been reduced to 70% from 80%.
Prime Minister Nguyen Xuan Phuc has asked central and local officials to have a political resolve and aspirations to develop the country in the new period although numerous difficulties remain.
Party General Secretary Nguyen Phu Trong has signed a Politburo resolution on policies and measures to restructure the State budget and manage public debts to ensure the safety and stability of the national finance, towards keeping macro-economy stability.
Five draft laws were submitted to the National Assembly (NA) for consideration on October 31 as part of the 14th parliament’s second session.
The National Assembly (NA) on October 20 heard Government reports on the economic restructuring plan and the management of public debt during the 2016-20 period.
The Ministry of Finance (MoF) is publicly seeking opinions in regard to a draft government decree requiring the ministry and local governments publicize State financial reports from 2018.
Vice Chairman of the Vietnam National Assembly Phung Quoc Hien held talks with Vice President of the Norwegian Parliament Svien Roald Hansen in Norway on September 22 to deepen relations between the two countries and legislative bodies.
There is an increasing risk that Vietnam’s public debt will exceed a national red line, the Ministry of Planning and Investment (MPI) said in its latest report.
At the first plenary meeting of the 14th National Assembly, Prime Minister Nguyen Xuan Phuc publicly revealed Vietnam’s public debt figure - something that is usually regarded as “sensitive” and is rarely fully disclosed.
From now until the end of the year, total public debt could reach VND3,000,000 billion (US$134.5 billion) and each Vietnamese will shoulder an additional VND4 million (nearly US$180) of public debt.
The State Audit Office of Vietnam (SAOV) has announced the official figure of the 2014 public debt at more than US$102.7 billion, yet hinting that it might have reached higher than that.
The International Monetary Fund has warned Vietnam’s government about a growing budget deficit and public debt, largely due to a big rise in recurrent expenditure and ineffective usage of public investment.
The depreciation of the Vietnamese dong against the Japanese yen and US dollar, in the wake of Britain’s referendum on its European Union membership, will raise Vietnam’s public debts as the majority of the debt is in these two currencies.
The budget deficit in the first half of the year hit 82.9 trillion VND (3.7 billion USD) due to rising recurrent expenditures and the repayment of debts, the General Statistics Office reported.
In an attempt to keep public debt in control, the Vietnamese government may stop guaranteeing state-owned enterprises' loans.
Banking analysts from the Bank for Investment and Development of Vietnam (BIDV) have proposed several measures to better manage Vietnam’s public debt, which is viewed as a mounting problem for economic-planners.
Public investments that exceed the State budget’s payment capacity should not be implemented, Finance Minister Dinh Tien Dung said, referring to it as one of a string of measures to ensure public debt stays within safety limits.
VOV.VN - Greece’s public debt crisis has seen positive developments when Eurogroup, a group of 19 finance ministers of the eurozone, reached an important agreement last week.