Vietnam sees public debt fall
Vietnam’s public debt in 2018 was estimated to account for less than 61% of national GDP, according to an official from the Ministry of Finance.
Annual public debt growth of around 18.1% in the 2011-2015 period dropped to 8.6% between 2016 and 2018. The rate was just 6% in 2018.
Public debt made up 63.7% of the country’s GDP in 2016. The rate fell to 61.4% by late 2017 and below 61% last year, which was still lower than the ceiling set by the National Assembly of 65% of the GDP in the 2018-2020 phase.
Experts have forecasted that the country’s pubic debt would continue to be below 61% of GDP in 2019.
Last year’s GDP growth of Vietnam was at 6.81% and the figure is forecasted to be at 6.85% during the 2018-2020 period.
Long noted that in 2018, both rating firms Fitch and Moody’s raised Vietnamese credit rating, expressing confidence in the national economy. - VNN -