Deputy Prime Minister Ho Duc Phoc signed Decision No. 352/QD-TTg of the Prime Minister approving the public debt borrowing and repayment plan for 2026 (plan).
The goal of the plan is to ensure resources; fully and on time repay public debts, without affecting the national credit rating; control debt safety; optimize the debt portfolio; and develop the capital market.
Regarding the public debt borrowing and repayment plan for 2026, the Government's borrowing plan is a maximum of 969.796 billion VND, including:
- Borrowing for central budget balance a maximum of 959.705 billion VND, of which borrowing to compensate for the central budget deficit is a maximum of 583.700 billion VND, borrowing to repay principal is no more than 376.005 billion VND.
- Borrowing for re-lending: approximately 10,092 billion VND. Mobilized sources combine flexibly with tools for issuing government bonds; ODA loans, foreign concessional loans; issuing international government bonds and other legal financial sources.
Government debt repayment is about 534.739 billion VND, of which direct government debt repayment is no more than 493.405 billion VND, and repayment of loan projects is about 41.334 billion VND.
Regarding government-guaranteed loans:
For the Vietnam Development Bank: The maximum limit for issuing government-guaranteed bonds equal to the principal repayment of government-guaranteed bonds due in 2026 is 2,910 billion VND.
For the Vietnam Bank for Social Policies: The maximum limit for issuing government-guaranteed bonds is 251 billion VND.
For guarantees for domestic and foreign borrowing enterprises: no government guarantee limit for 2026 for domestic and foreign borrowing projects is allocated because the projects have completed capital withdrawal.
Local government's borrowing and debt repayment plan: Total borrowing in the year is about 26,079 billion VND. Total principal repayment is about 3,979 billion VND.
Regarding foreign commercial loans of enterprises not guaranteed by the Government in 2026: The medium and long-term foreign commercial loan limit for enterprises and credit institutions using self-borrowing and self-repayment methods is about 6,124 million USD/year; the growth rate of short-term foreign debt is about 19-20% compared to the outstanding debt at the end of 2025.
The decision clearly states that the borrowing and debt repayment plan for 2026 is implemented within the above maximum levels; in case a need arises exceeding the above maximum level, the Ministry of Finance shall submit to the Prime Minister for adjustment of the plan.
New projects borrowing from foreign countries focus on prioritizing important projects with the nature of changing the situation, changing status; overcoming existing problems related to slow disbursement of projects using ODA loans and concessional loans.
Ministries, branches, and localities promote the disbursement progress of public investment capital, in accordance with the list of projects allocated annual public investment capital and the 5-year medium-term public investment plan, contributing to improving the efficiency of mobilizing and using borrowed capital, ensuring savings and combating wastefulness.
The State Bank of Vietnam strictly controls the implementation of the foreign debt limit for self-borrowing and self-repayment of enterprises not guaranteed or secured by the Government within the approved limit; presides over the management of the foreign debt of the private sector and presides over and coordinates with the Ministry of Finance to report to the Prime Minister in case of negative developments.
