Public debt falls to lowest level since 2015
09:35 | 23/05/2019
VGP – Viet Nam’s public debt dipped to 58.4% in 2018 from 61.3% in 2015, said Deputy PM Vuong Dinh Hue on Wednesday at group discussion of the National Assembly’s ongoing 7th working session.

Public debt/GDP ratio from 2015 to 2018. VGP graphics

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According to the Ministry of Finance, public debt has been strictly controlled and each Vietnamese citizen carried a public debt burden of VND 32 million (US$1,367) as of last year.

The country’s GDP was estimated at VND 5.5 quadrillion (US$213.67 billion) while total public debt was VND 3.2 quadrillion, said the Ministry.

Deputy PM Hue said the Government issued guarantee to just one thermal power plant in 2018 and no government guarantee will be issued in 2019 as part of the effort to scale down public debt.

Public debt includes central government debt, provincial government debt and loans guaranteed by the Government.

Foreign debt only accounts for 40% of the public debt compared to 60% from the previous years, Hue added.

Though public debt has fallen, the rate still remains high, warned Deputy PM Hue./.

By Thuy Dung

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