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. Truong Hung Long, head of the Department of Debt Management and External Finance under the ministry said the country’s public debt had tended to decline. Vietnam’s public debt in 2018 was estimated to account for less than 61% of national GDP 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 … [Read more...] about Vietnam sees public debt fall
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EVN’s borrowings burden Vietnam’s public debt: World Bank
The Hanoitimes - Up to 70% of EVN`s loans are denominated in foreign currencies, leaving the company heavily exposed to foreign exchange risks. EVN ordered to ensure sufficient power for economic growth Vietnam may face power shortage in 2019 due to thin coal supply: EVN EVN's wholesale electricity price frame approved Vietnam's EVN gets closer to issuing USD bonds Fitch assigns Vietnam's EVN "BB" rating with stable outlook The Electricity of Vietnam (EVN) – the country's sole power distributor – has borrowed billions of dollars from foreign lenders through the Vietnamese government’s guarantees over the past years, burdening the country’s public debt, the World Bank has said. A national power grid. Photo: Internet EVN’s debt is split into two categories, namely direct loans from a variety of domestic and international commercial banks (backed by the Ministry of Finance (MOF) and on-lending loans which the MOF had … [Read more...] about EVN’s borrowings burden Vietnam’s public debt: World Bank
Vietnam’s public debt projected to reach 61.1% of GDP in 2018
The Hanoitimes - In 2018, Vietnam has signed 14 ODA loans and grants agreements worth US$1.25 billion, said a finance ministry official. Vietnam’s public debt is projected to reach 61.1% of GDP by the end of 2018, down 1.5 percentage points year-on-year and below the limit of 65% of GDP set by the National Assembly, according to the Department of Debt Management and External Finance (DMEF) under the Ministry of Finance. Illustrative photo. In 2018, Vietnam has signed 14 ODA loans and grants agreements worth US$1.25 billion, said Nguyen Xuan Thao, deputy head of the DMEF, at a recent meeting. The government’s payment of debt this year is estimated at VND42.85 trillion (US$1.84 billion). In a recent update on Vietnam, HSBC forecast the country's public debt-to-GDP ratio to rise moderately to 61.6% this year before going down to 61.4% in 2019, assuming a fiscal deficit of 4% of GDP for both years, which is above the government's target … [Read more...] about Vietnam’s public debt projected to reach 61.1% of GDP in 2018
Public debt growth slows
Public debt growth slows The Saigon Times Daily A person is seen counting U.S. banknotes in this file photo. The growth rate of public debts has dropped to 10% - PHOTO: THANH HOA HCMC - The growth rate of public debts has recorded an annual decline from 18.4% in the 2011-2015 period to the current 10%, a senior official from the Ministry of Finance was quoted by Dan Tri news website as saying. Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance, said that public debt has been kept within the threshold and is projected to account for 61.4% of the country’s gross domestic product (GDP) this year, lower than the target of 65% and 63.7% in 2016. The Government debt-to-GDP ratio is forecast to reach 52.1%, below the limit of 54%. During the 2016-2018 period, the Government has attempted to gradually increase locally mobilized capital and reduce dependence on foreign loans, Long noted, adding that the capital … [Read more...] about Public debt growth slows
Govt misses budget revenue collection target, public debt swells in Jan-Sept
Govt misses budget revenue collection target, public debt swells in Jan-SeptBy Ngoc Lan A view of Ca Mau Gas-Power-Fertilizer Complex. The Government plans to increase tax on nitrogenous fertilizer in 2019 – PHOTO: TL HANOI – The Government did not achieve its budget revenue collection target in January-September, while the country’s public debt burden was getting heavier, according to the National Assembly's (NA’s) Finance and Budget Committee’s report on the State budget performance this year and plans for next year, delivered at the NA’s sixth sitting on October 22. High budget revenue collection targets According to the Finance and Budget Committee, the Government had set unachievable targets for revenue from domestic production and business activities compared with last year, leading to the lower-than-expected revenue from local enterprises. Although the State budget revenue this year may surpass the estimate as the amount in the … [Read more...] about Govt misses budget revenue collection target, public debt swells in Jan-Sept