Vietnam set to keep public debt under control

Created 16 October 2021
  • PDF
Editor Choice
(0 votes, average 0 out of 5)

Vietnam is set to keep its public debt under control this year at 43.7 percent of GDP, against the cap of 60 percent.

Vietnam set to keep public debt under control

This amounts to around VND3,700 trillion ($162.58 billion), according to a government report recently submitted to the National Assembly.

Last year, public debt was 55.3 percent against a threshold of 65 percent.

The government is set to pay VND365.93 trillion in debt this year. It said debt duties so far have been paid fully and on time.

But the complicated Covid-19 situation is set to cause challenges to achieving growth targets this year.

GDP expanded by only 1.42 percent in the first nine months, while a lower-than-expected growth rate for the year could cause a negative impact on budget overspending and public debt safety indicators.

Issues in negotiation, signing and disbursement of Official Development Assistance loans due to Covid-19 and other knots in policies and differences between domestic and foreign administrative procedures are set to put more burden on mobilizing money domestically.


Source: VNE

Maybe You Also Interesting :

» As prices rise, Vietnamese fork out less for pork

Vietnamese families have been consuming less pork in recent months as prices increased, switching to other sources of protein like chicken and eggs.

» Lan to represent Vietnam at world athletics championships

Quach Thi Lan will be the sole athlete to represent Vietnam at this year's World Athletics Championships held July 15-24 in Oregon, U.S.

» Chill out in summer, camp at a waterfall near Hanoi

The Mo&Jen Camp Retreat, ensconced in a setting of unspoiled nature and cool streams in Thai Nguyen Province, is an ideal camping destination during a hot...