Vietnam’s public debt will reach VND3.8 quadrillion ($154 billion) by the end of 2023, according to the latest information from the Ministry of Finance (MoF).

The figures come in a report the MoF presented to the ongoing 15th National Assembly’s 6th plenary session reviewing the three-year implementation of the National Financial Plan and the borrowing and payment of public debt in the 2021-2025 period.

According to the report, public debt is under control and within safe limits.

The national external debt will stand at 39-40 per cent of GDP, down from 42.7 per cent in 2021, in which government debt is VND3.7 quadrillion ($150 billion) and debt-to-GDP is about 36-37 per cent.

The MoF said that during the 2021-2023 period, the mobilization and repayment of public debt, the criteria for public debt safety, borrowing limits, and government guarantees as well as borrowings by local governments are all implemented to ensure that the objectives and targets set out in NA Resolution No. 23/2021/QH15 are met.