Deputy Prime Minister Ho Duc Phoc has just signed Decision No. 1940/QD-TTg dated September 8, 2025 approving the 2025 Public Debt Lending and Rehabilitation Plan and the 3-year Public Debt Management Program for the period 2025-2027.
The goal is to ensure resources to repay public debts in full and on time, without affecting the national credit rating coefficient; continue to restructure the Government bond debt portfolio in accordance with market conditions and implementation needs.
At the same time, ensure the task of mobilizing loans through diversifying domestic and foreign sources and lending methods to meet the need to balance the state budget and develop the socio-economy with appropriate costs and risks, focusing on prioritizing the mobilization of foreign capital for large and important projects with the nature of turning the situation around and changing the state.
In addition, strictly control debt safety indicators within the ceiling and warning threshold approved by competent authorities and promote the development of the domestic capital market; make the most of ODA capital and foreign preferential loans.
Regarding the 2025 Public Debt repayment and Loan Plan, the Government's Loan Plan is a maximum of VND 815,238 billion, including:
Borrowing to balance the central budget is a maximum of VND 804,242 billion, of which the maximum central budget outstanding loan is VND 443,100 billion, borrowing to repay principal is not more than VND 361,142 billion;
Loans back are up to VND10,996 billion.
Flexible mobilization sources from the following tools: Issuing government bonds; ODA loans, foreign preferential loans; and, if necessary, loans from other legal financial sources.
The maximum repayment of government debt is 506,949 billion VND, of which the direct repayment of government debt is not more than 468,542 billion VND, repayment of projects with re-lending is a maximum of 38,407 billion VND.
Regarding loans guaranteed by the Government, the Decision clearly states that the domestic bond issuance level guaranteed by the Government for the Bank for Vietnam Development is 0 VND.
The domestic bond issuance level guaranteed by the Government in 2025 of the Social Policy Bank is a maximum of VND 10,521 billion.
For guarantees for domestic and foreign businesses: According to the principle stated in Resolution No. 07-NQ/TW of the Politburo and Resolution No. 23/2021/QH15 of the National Assembly, the Government guarantee limit for 2025 is not arranged because projects do not need to withdraw capital, only repay debts.
Local government loan and repayment plan: Total loan amount in the year is 31,773 billion VND. Total principal repayment is 3,323 billion VND; total interest and fee payment is 3,147 billion VND.
Foreign trade loans of enterprises not guaranteed by the Government in 2025: The limit for medium and long-term foreign trade loans of enterprises and credit institutions using self-borrowing and self-payment methods is about 5,500 million USD; the growth rate of short-term foreign loans is about 18-20% compared to the end of 2024.
The decision stated that the 2025 Loan and repayment Plan is implemented within the above maximum levels; in case of arising demand exceeding the above maximum level, the Ministry of Finance shall submit to the Prime Minister for adjustment of the plan.
