By 2025, public debt is forecast to be 47.5 per cent of GDP if it is reassessed, and 60.4 per cent if it is not. Photo: Le Toan The government last week reported to the National Assembly (NA) that since 2017, thanks to tightened management in loans and government guarantees, the economy’s public debt has gradually reduced. By late 2019, the public debt was estimated to be about 55 per cent of GDP, with government debt standing at around 48 per cent of GDP and foreign debt hitting some 47.1 per cent of GDP. These rates stayed within the respective permissible limits of nearly 65, 54, and 50 per cent respectively. “The public debt is still closely controlled, and the quality of public debt has also been improved significantly,” said Minister of Finance Dinh Tien Dung. Earlier the Ministry of Finance (MoF) was grilled by a number of NA deputies about how the government has worked on ensuring national public debt, amid raising worries about the state budget overspending and shrunk revenues for the state coffers caused by numerous difficulties over the past five years during the current government tenure. Dung reported that the public debt increased 18.1 per cent… Read full this story
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