The third working day of the 13th conference session of the tenth tenure Ho Chi Minh City People's Council considered and approved many key contents on December 8 morning.
The Ho Chi Minh City People's Council passed a resolution on borrowing and debt repayment plan of the local authorities in 2024.
Particularly, the Ho Chi Minh City People's Council passed a resolution approving Ho Chi Minh City's loan plan with a total value of more than VND9,749 billion (US$400 billion).
Of which, loan to cover the budget deficit is more than VND8,998 billion (US$369 billion), loan to repay the principal is VND750.9 billion (US$31 billion), loan from Government capital for on-lending is more than VND4,749 billion (US$195 billion) and domestic loan is more than VND5,000 trillion (US$205 billion).
Regarding the repayment plan for the principals, interest and fees in 2024, the HCMC People's Council resolved to approve the 2024 debt repayment plan of Ho Chi Minh City worth more than VND1,969 billion (US$81 billion).
The source of repayment of principal, interest and fees is more than VND1,218 billion (US$50 billion) arranged in the city budget balance estimate.
The source of repayment of VND750.9 billion (US$31 billion) is spent from the loan quotation for repayment of principal.
The Ho Chi Minh City People's Council also resolved to approve the policy of issuing municipal bonds in 2024 according to the preliminary project for local government bond issuance of the Ho Chi Minh City People's Committee with the maximum bond issuance volume worth more than VND5 trillion (US$205 billion).
