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Investment funded by government bonds reduced by US$162.4 million
Ngoc Thuy 20:24, 2018/03/16
The Prime Minister has approved the modification of the investment plan of government bond capital for the period 2012–2015 and 2014–2016.
Under the new plan, the implementation and disbursement period of government bond capital for the previous periods will be extended to 2018, while the total amount will be reduced by VND3.7 trillion (US$162.4 million).
 
Investment funded by government bonds reduced by US$162.4 million.
Investment funded by government bonds reduced by US$162.4 million.
Specifically, the reduced amount in 4 ministries, including the Ministry of Transport, Ministry of Defense, Ministry of Agriculture & Rural Development, and Ministry of Health will be VND2.1 trillion (US$92 million), and capital allocated to 61 provinces will be reduced by VND1.6 trillion (US$70.4 million).
The Ministry of Planning & Investment, per the Prime Minister request, will cooperate with the Ministry of Finance in supervising and monitoring the investment plan funded by the state budget (including government bonds) in 2018; as well as be responsible for the accuracy of information submitted to the Prime Minister and audit agencies.
The Ministry of Finance in turn will coordinate with related ministries and provincial People’s Committees in taking back the reduced amount of government bonds in period 2012–2015 and 2014–2016. The disbursement of government bonds, thus, will not exceed the total amount after adjustment.
The market value of government bonds hit VND1,000 trillion (US$44 billion) as of the end of February 2018, equivalent to 20% of Vietnam’s GDP in 2017, according to the Hanoi Stock Exchange.
Reports indicate that about VND10.5 trillion VND (US$462 million) worth of government bonds were traded each auction on average in the first two months of 2018.
Sales and purchases of bonds and stocks accounted for more than 50% of the total transaction value of the market, showing the market’s high liquidity. This is also positive information for investors interested in the bond market.
By the end of February, government bonds worth VND29.38 trillion (US$1.29 billion) were issued, according to the Ministry of Finance.
Meanwhile, total revenue of the State budget reached VND215.76 trillion (US$9.49 billion) in the first two months of 2018, equivalent to 16.1% of the yearly estimate and up 12.7% year-on-year.
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