Vietnam pays $2.81 billion of foreign loans and aid
Vietnam pays $2.81 billion of foreign loans and aid
According to the General Statistics Office of Vietnam, by July 15, 2013, Vietnam paid foreign debts and aid worth VND56.2 trillion ($2.81 billion), equivalent to 53.5 percent of the yearly estimate.
And the world debt clock, by 2.20pm on July 29, Vietnam's public debt stood at $74.85 billion, accounting for 48.9 percent of the country’s GDP.
According to a government report to the National Assembly on May 20, by the end of 2012, Vietnam’s public debt was equivalent to 54.1 percent of GDP, within safety limits.
According to the research report entitled "Public debt and sustainability in Vietnam" by the National Assembly’s Economic Committee, by the end of 2012, Vietnam's total public debt was equivalent to 55.4 percent of GDP, in which foreign and domestic debts were 29.6 percent and 25.8 percent of GDP, respectively.
However, if the debts in the banking system of state-owned enterprises and the domestic debts in bonds without the government’s guarantee are included, Vietnam’s public debt reaches up to 95 percent of GDP, far exceeding the safety threshold of 60 percent of GDP.
The $2.81 billion for foreign debts and aids is part of the total budget expense of VND483.6 trillion ($24.18 billion) so far this year, equivalent to 49.5 percent of the yearly estimate.
In addition, the spending for investment and development was VND83.6 trillion ($4.18 billion), equivalent to 47 percent of the yearly plan.
The expenses for socio-economic development, defense, security, state management, the Party and state organizations is estimated at VND343.9 trillion ($17.1 billion), equivalent to 51 percent of the yearly estimate .
Meanwhile, total state budget revenue in the same period was estimated at VND381.7 trillion ($19.08 billion), accounting for 46.8 percent of the yearly estimate.
The sources of revenues include: domestic revenues of VND251.5 trillion, crude oil VND58.4 trillion and import-export activities VND68.6 trillion.
In domestic revenues, revenues from state-owned enterprises reached VND73.4 trillion, accounting for 42.1 percent of the annual plan, from FDI sector VND56.3 trillion, equal to 52.5 percent of the yearly plan, non-state sector VND54.7 trillion, equivalent to 45.4 percent of the yearly plan.
Personal income tax revenues contributed VND28.6 trillion to the budget, equal to 52.1 percent of the yearly, environmental protection tax VND6.1 trillion, 42.8 percent and other kinds of fees VND5.1 trillion, 49.4 percent.
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