Vietnam Public Debts Leap to 52% of GDP, Economist Says
Vietnam’s public debts widened to 52% of the country’s gross domestic products (GDP) last year, ranking 44th worldwide right after the U.S, Morocco and Kenya, said Tran Dinh Thien, director of the Vietnam Economics Institute, in his own report.
The rate remains below the global average level of 56%, the Tuoi Tre newspaper reported Wednesday, citing the report which was compiled for reference at a conference in Vietnam.
The Minister of Finance Vu Van Ninh told the National Assembly deputies on June 9 that Vietnam’s government debts widened to 41.9% of the gross domestic products (GDP) while national foreign debts stood at 38.9%.
Ninh, however, did not give any figure on the country’s public debts, just saying that the debts are still under the safe bracket as categorized by the World Bank.
Vietnam Institute of Economics belongs to the Vietnam Academy of Social Sciences. It is assigned to find solutions to all questions relating to the economic development of Vietnam and provide scientific basis for defining strategies and policies of development. (Youth)
Vietnamese
