3:22:35 PM | 1/10/2008
Vietnam’s public debt is still at safe level as it accounted for 40.7 per cent of GDP as at the end of 2007, the Finance Ministry said in a statement sent to the National Assembly Standing Committee to finalize the Law on Public Debt Management.
Public debt includes debt of the government, debts guaranteed by the government and debt of provincial governments. It excludes debt of state-owned companies.
Through debt management, Vietnam has raised a big sum of capital for the State budget and economic development, while managing debts at safe levels, the Ministry of Finance said.
With great efforts to settle old debts in 1993-2000, Vietnam has escaped from a serious external-debt country (with public debts accounting for more than 90 per cent of GDP) to become a nation with safe debt level and eligible to receive new aids.
The country’s external debts as Dec 31, 2007 accounted for 32.75 per cent of GDP and for 42.96 per cent of export revenues. (Investment, Vietnam Economic Times)
Vietnamese
