Vietnam Finance Ministry Borrows 30T VND from Central Bank

Minh Tam

17:04 02/10/2015

BizLIVE - The Ministry of Finance has completed a procedure to borrow 30 trillion VND (1.33 billion USD) from the State Bank of Vietnam, the country’s central bank, and will repay the amount by the end of this year, Dao Xuan Tue, head of the ministry’s  State Budget Department, said at a press meeting late on Friday.

Vietnam Finance Ministry Borrows 30T VND from Central Bank

The country’s state budget revenue is estimated at 683 trillion VND in the first nine months of this year while budget expenditures total 823.97 trillion VND.

Mr. Tue did not collaborate whether the loan was made in the dong or foreign currencies.
The country’s state budget revenue is estimated at 683 trillion VND in the first nine months of this year while budget expenditures total 823.97 trillion VND, resulting in a fiscal deficit of 140.97 trillion VND in the period, or 62.5% of the year’s plan, the ministry said at a press meeting.
Under the current Vietnamese legislation, the Ministry of Finance can borrow from the central when the state budget incurs a temporal deficit and the loan has to be repaid within the fiscal year.

MINH TAM

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