VND54 trillion in G-bonds, govt-guaranteed bonds sold in Jan-Feb
HANOI - VND54.1 trillion (US$2.37 billion) was raised from sales of Government bonds (G-bond) and Government-guaranteed bonds in the first two months of this year, according to the Ministry of Finance.
The ministry said in a report last week that of the total, G-bond sales of over VND41.9 trillion met 22.9% of the whole year’s target of VND183.3 trillion. Of the amount, VND26.9 trillion was raised from G-bond auctions on the market and VND15 trillion by Vietnam Social Insurance.
The secondary market saw an average daily volume of G-bonds and Government-guaranteed bonds worth VND4.37 trillion sold in February, down a staggering 31.3% compared to the average of last year.
In the January-February period, the ministry clinched four borrowing agreements totaling US$203.2 million. In the year to February 22, the country had paid VND5.82 trillion (US$262.8 million) for foreign creditors and disbursed over VND5.77 trillion in foreign loans.
The ministry estimated budget collections totaled VND185.8 trillion in the first two months, equivalent to 15.3% of the year’s estimate. Budget contributions from State-owned enterprises reached only 11.5% of the year’s target, environmental protection tax 14.4%, and public land and assets in communes 11.1%.
Meanwhile, total budget spending had reached VND175.8 trillion, 12.6% of the year’s estimate, in the year to February 28.
The VN-Index, the main index of Vietnam’s stock market, rose to 710.79 points at the end of February, up 6.9% over late last year, while the HNX-Index closed 8.4% higher at 86.83 points. Market cap neared VND2,217 trillion, leaping 14% over December 2016 and equivalent to 49.2% of the country’s gross domestic product (GDP).