Vietnam's Q1 budget deficit widens to $2.1 billion

By    April 7, 2016 | 05:51 pm GMT+7
Vietnam's budget deficit in the first three months of this year was valued at VND47 trillion ($2.1 billion), a 26 percent increase from the same period last year, the government's National Financial Supervisory Commission cited a deputy trade minister as saying at a press conference on Monday.

Vietnam spent VND39.2 trillion repaying foreign loans in the first quarter of 2016, up 5.3 percent from same period in 2015.

The government, in an effort to make up for the deficit, has sold bonds to raise nearly VND69 trillion, equivalent to 27 percent of the annual target.

Bonds have been a key source of funds for the Vietnamese government’s spending projects. The country is trying to improve its infrastructure, including transport and energy projects, so it can meet the demands of its expanding economy.

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