Politics

Law on Public Debt Management passed

A draft Law on Public Debt Management was adopted on November 23 at the 14th National Assembly’s fourth session with 85.74 percent of “yes” votes.
Law on Public Debt Management passed ảnh 1Lawmakers adopt the draft Law on Public Debt Management at the 14th National Assembly’s fourth session (Source: VNA)

Hanoi (VNA) – A draft Law onPublic Debt Management was adopted on November 23 at the 14th National Assembly’s fourth session with 85.74 percent of “yes” votes.

The law manages lending activities and theuse and payment of loans. Public debt includes central Government debt,Government-guaranteed loans and local government debt.

The law is applied to agencies,organisations and individuals related to lending activities, the use andpayment of loans and public debt management.

Under the law, the State manages publicdebts and monitors the work of agencies, organisations and individuals involvedin public debt. The State will also control public debt safety to ensure thenation’s financial sustainability and macro-economic stability.

The National Assembly, People’s Councils andVietnam Fatherland Front will supervise the enforcement of the public debt managementlaw.

The law will become effective on July 1,2018.-VNA
VNA
#draft Law on Public Debt Management#14th National Assembly’s fourth session#Government debt#Vietnamplus. Vietnam News Agency
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