Vietnam’s 2018 public debt to GDP falls to the three-year low of 58.4%


According to the Ministry of Finance’s (MOF) report submitted to the National Assembly, Vietnam’s public debt level to GDP in 2018 was estimated to fall to a three-year low of 58.4% from 61.4% in 2017 and 63.7% in 2016. The Government’s debt and external debt to GDP also decreased to 50% and 46%, respectively, from 51.2% and 49% in 2017. This was a result of impressive economic growth of 7.1% and a well-managed fiscal deficit of 3.67% of GDP in 2018 (vs the target of 3.7%).

This upbeat result should improve the creditworthiness of Vietnam’s Government as well as give the Government more fiscal room to carry out its social and infrastructure development policy.

Source: VCSC

Photo: VAM