Public debt remains stable with debt structure positive
Public debt and government debt remained well within NA limits last year.
Topic: public debt
2023 public debt-to-GDP ratio at 37%
Figure within limit set by National Assembly.
Public debt to stand at $154bln by end-2023
National external debt at 39-40 per cent of GDP, down from 42.7 per cent in 2021.
MoF ready to implement Public Debt Strategy to 2030
The Ministry of Finance’s plan on implementing the Public Debt Strategy to 2030, which has been approved by the Minister of Finance, outlines seven lists of tasks and projects, including a proposal to supplement and amend the Law on Public Debt Management in line with international practice. The 2030 public debt strategy sets a target that, by 2030, Vietnam’s public debt will not exceed 60 per cent of GDP, government debt will not exceed 50 per cent of GDP, and foreign debt will not exceed 45 per cent of GDP.
Public debt safety and national financial security ensured
As of the end of 2021, Vietnam’s public debt totaled VND3.7 quadrillion ($158.88 billion), accounting for 43.1 per cent of GDP. According to the Ministry of Finance, the ratio of public debt to GDP is gradually declining, as is outstanding foreign loans, while domestic loans of the government are increasing rapidly. This helps ensure public debt safety and national financial security.