Deputy Prime Minister Ho Duc Phoc has just signed Decision No. 1940/QD-TTg approving the Public Debt Borrowing and Repayment Plan for 2025 and the 3-year Public Debt Management Program for the 2025-2027 period.

According to the plan, in 2025, the Government will borrow a maximum of VND815,238 billion. Specifically, the maximum loan for balancing the central budget is VND804,242 billion, of which the maximum loan to cover the central budget deficit is VND443,100 billion, the loan to repay the principal is not more than VND361,142 billion; the maximum loan for re-lending is VND10,996 billion.

Flexible mobilization sources from government bond issuance tools, ODA loans, foreign preferential loans and, if necessary, loans from other legal financial sources.

Government debt repayment is a maximum of VND 506,949 billion, of which direct debt repayment of the Government is no more than VND 468,542 billion, debt repayment of re-lending projects is a maximum of VND 38,407 billion.

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According to the plan, the total government loan for the 2025-2027 period will be a maximum of more than VND2.2 million billion. Photo: Nam Khanh

Regarding loans guaranteed by the Government, the decision clearly states that the domestic bond issuance level guaranteed by the Government for the Vietnam Development Bank is VND0. The maximum domestic bond issuance level guaranteed by the Government in 2025 of the Vietnam Bank for Social Policies is VND10,521 billion.

The local government's borrowing and debt repayment plan is a total loan amount of VND31,773 billion in the year; total principal repayment of VND3,323 billion; total interest and fee repayment of VND3,147 billion.

Foreign commercial loans of enterprises not guaranteed by the Government have a medium and long-term limit of about 5.5 billion USD in the form of self-borrowing and self-repayment; short-term outstanding debt is expected to increase by 18-20% compared to the end of 2024.

According to the decision, the 2025 borrowing and debt repayment plan will be implemented within the stated maximum levels. In case of a need to exceed the above maximum level, the Ministry of Finance will submit to the Prime Minister for adjustment of the plan.

Regarding the 3-year public debt management program, period 2025-2027, regarding government borrowing and debt repayment, the decision clearly states that the total government loan amount is a maximum of about 2.2 million billion VND .

Of which, loans for the central budget are more than 2.18 million billion VND. Loans for re-lending from ODA loans and foreign preferential loans are about 35,000 billion VND.

The total debt repayment of the Government in the 2025-2027 period is a maximum of more than 1.3 million billion VND, of which direct debt repayment is about more than 1.2 million billion VND; debt repayment of loans for re-lending is about 120,000 billion VND...

Regarding the Government guarantee limit, for the guarantee for two policy banks to issue bonds, the guarantee level for the Vietnam Development Bank in the 2025-2027 period is a maximum of VND 14,160 billion.

For the Vietnam Bank for Social Policies, in the period 2026-2027, the bond issuance guarantee level will be applied according to the principle of 2025: equal to the amount of bond debt due minus the amount recovered from the Socio-Economic Recovery and Development Program. The specific guarantee scale is based on the situation of debt collection due and the results of bond issuance on the market.

The Decision requires the Ministry of Finance to strictly control the state budget deficit, local budget deficit and local budget debt level, the Government's debt repayment obligation ratio; and to study new methods of mobilizing loans.

The Ministry of Finance shall proactively manage the issuance volume of government bonds according to the market's demand and absorption capacity, in order to meet the capital needs of the central budget with appropriate interest rates. Bonds should be issued in a diversified manner, ensuring the average maturity according to the target set by the National Assembly. At the same time, the Ministry shall also manage the debt repayment estimate for 2025 and arrange resources for full and timely payment.

The State Bank of Vietnam strictly controls the implementation of the self-borrowing and self-paying foreign debt limit of enterprises not guaranteed or secured by the Government within the approved limit; presides over the management of foreign debt of the private sector.

Tax inspection period can be up to 80 days, businesses openly express their concerns . A business said that the tax inspection period of 40 working days is equivalent to 15% of a year's working time; if including the 40-day extension period, the total is 80 working days, which will affect production and business.

Source: https://vietnamnet.vn/no-cong-2025-2027-chinh-phu-vay-toi-da-2-2-trieu-ty-tra-hon-1-3-trieu-ty-dong-2440560.html