Vietnam PM: Add VND20T G-bonds to Key Projects This Year
Prime Minister Nguyen Tan Dung has turned greenlight to adding VND20 trillion to key and urgent transport infrastructure, irrigation, healthcare and education projects this year, the government of Vietnam said on its Website.
The government has okayed VND8.5 trillion of that fund for transport projects, VND4 trillion for irrigation projects and VND2 trillion for healthcare projects and VND5.5 trillion for education projects.
The government also agreed to advance 50 per cent of that fund for those projects.
It is seeking approval from the National Assembly to issue an additional government bonds worth VND20 trillion to raise funds for its demand stimulus packages worth up to US$8 billion
It also proposed cutting GDP growth rate to 5 per cent from the earlier set target of 6.5 per cent for this year.
State budget deficit is expected to widen to 8 per cent of the country’s GDP this year, up from approx 5 per cent last year, state media said. (The People, chinhphu.vn)
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