Phap Van - Cau Gie Expressway (Photo: VNA) Hanoi (VNS/VNA) – Vietnam’s public debt remains under the ceiling limit, according to the Ministry of Finance. Truong Hung Long, Director of the ministry’s Department of Debt Management and External Finance, said public debt was forecast to stand at 61.4 percent of gross domestic product (GDP) by the end of this year, down 63.7 percent from the end of 2016 and below the ceiling of 65 percent. Long said public debt slowed down in 2016-18, rising at an average rate of 10 percent, compared to the rate of 18.4 percent in 2011-15. Of public debt, Government debt was expected to account for 84.8 percent, Government-guaranteed debt 14.1 percent and debts of local authorities nearly 1 percent by year-end. Long said public debt was structured towards increasing domestic loans and long-term loans while easing pressure on short-term payments and lowering borrowing costs in 2016-18. The Government consistently reduced the … [Read more...] about Public debt under control: Finance Ministry
Public debt usa
Public debt under control: MoF
Viet Nam News HÀ NỘI — Việt Nam’s public debt remains under the ceiling limit, according to the Ministry of Finance. Trương Hùng Long, Director of the ministry’s Department of Debt Management and External Finance, said public debt was forecast to stand at 61.4 per cent of gross domestic product (GDP) by the end of this year, down 63.7 per cent from the end of 2016 and below the ceiling of 65 per cent. Long said public debt slowed down in 2016-18, rising at an average rate of 10 per cent, compared to the rate of 18.4 per cent in 2011-15. Of public debt, Government debt was expected to account for 84.8 per cent, Government-guaranteed debt 14.1 per cent and debts of local authorities nearly 1 per cent by year-end. Long said public debt was structured towards increasing domestic loans and long-term loans while easing pressure on short-term payments and lowering borrowing costs in 2016-18. The Government consistently reduced the … [Read more...] about Public debt under control: MoF
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
Vietnam public debt predicted to fall to 61.4% of GDP in 2018
The Hanoitimes - The number is based on the assumption that the average economic growth rate of 2018 would be 6.7%. Vietnam's public debt by the end of 2018 is expected to reach VND3,130 trillion (US$133.93 billion) or 61.4% of GDP, down 2.3 percentage points from 2017, VnExpress reported. Illustrative photo. According to estimates by the Ministry of Planning and Investment (MPI), the country's public debt as per GDP would decline by 2.5 percentage points in 2018 compared to its previous prediction released on August, stated Tran Quoc Phuong, head of the MPI's Department for National Economic Issues, in a teleconference meeting on September 24. The review number is based on the assumption that the average economic growth rate of 2018 would be 6.7% instead of the previous estimate of 6.53%, Phuong added. Vietnam's budget revenue collection this year is expected to reach VND1,350 trillion (US$57.76 billion), up 3% compared to the year's estimate and 5.5% … [Read more...] about Vietnam public debt predicted to fall to 61.4% of GDP in 2018