Viet Nam’s public debt drops significantly
VGP - Viet Nam’s public debt declined dramatically to 43.1 percent of GDP in 2021 from 58.3 percent in 2018, according to the Ministry of Finance.
Last year, the country's obligation of foreign debt repayment on total exports was 6.2 percent, while the government's debt repayment obligation compared to state budget revenue was about 21.8 percent.
As of this June, Viet Nam’s largest bilateral creditor was Japan (with over VND 274 trillion), followed by South Korea (VND 28 trillion), France (VND 27 trillion) and Germany (VND 12 trillion).
Meanwhile, the World Bank was the biggest multilateral lender of Viet Nam with over VND 350 trillion, followed by the Asian Development Bank with VND 180 trillion. Viet Nam also borrowed around VND 12 trillion from other international lenders.
In the first six months of 2022, outstanding Government debt was over VND 3.219 quadrillion, including VND 2.221 quadrillion of domestic debt, accounting for nearly 71 percent.
In April, Deputy Prime Minister Le Minh Khai signed a decision approving the strategy until 2030, which sets a target of keeping it at under 60 percent of the GDP and Government debt not exceeding 50 percent of the GDP in 2030./.
