The total volume of government bonds issued in the first quarter of 2023 is VND 93,957 billion
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- 22:05 02/04/2023
DNHN - As of March 23, 2023, the total volume of government bonds issued in the first quarter of 2023 (VND 93,957 billion) represents 87% of the first quarter of the 2023 plan (VND 108,000 billion) and 23.5% of the 2023 plan (400,000 billion VND).
The State Treasury (State Treasury) reported that although interest rates for government bonds (government bonds) increased slightly at the end of February and the first half of March 2023, the overall trend of the quarter was to decrease (to on March 23, 2023, the interest rate for government bonds was 0.7 - 1.3% lower per year depending on the type of term compared to the beginning of the year); In the primary market, the basic bidding interest rate decreased and demand for government bonds increased.
The State Treasury took advantage of favorable market conditions (the interest rate on government bonds decreased and the demand for purchasing government bonds was high) to organize the issuance of Government bonds in a quantity sufficient to meet the needs of the central budget. According to Resolution No. 69/2022/QH15 of the National Assembly dated 11/11/2022 on the State budget estimate for 2023, (NSTW) will be high in the first months of 2023, necessitating large loans from the central budget.
Consequently, the total volume of government bonds issued in the first quarter of 2023 (as of March 23, 2023) is VND 93,957 billion, which corresponds to 87% of the plan for the first quarter of 2023 (VND 108,000 billion) and 23.5% of the plan in 2023. (VND 400,000 billion). All government bonds are issued through a bidding process, with maturities ranging from 5 to 30 years, primarily 10 and 15 years (representing 93% of the total volume of issuance).
By the National Assembly's Resolutions No. 23/2021/QH15 and No. 43/2022/QH15, the average annual term of government bond issuance is 12.53 years, according to the State Treasury; the average maturity of the government bond portfolio is 9.2 years; and the average interest rate of government bond issuance is 4.26 percent per year.
To complete the task of capital mobilization for the state budget, the State Treasury will continue to closely monitor the market situation, the progress of central budget revenues and expenditures, the disbursement of the public investment capital plan, and the plan to repay the State budget's principal debt shortly. Central budget, actively managing the volume of government bond issuance by spending requirements while avoiding over-mobilization.
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