Sign up | Log in



Home  >>   Daily News  >>   Vietnam  News  >>   Economy  >>   Vietnamese public debt hits 56.7 percent of GDP
NEWS UPDATES 4 November 2010

Vietnamese public debt hits 56.7 percent of GDP

Related Stories

November  3, 2010
New effort urged to restructure Vietnamese firms 

October  16, 2010
 Private sector plays greater Vietnam role

September 29, 2010
Vietnam looks to brighter future

September 23, 2010
  Vietnamese president addresses development summit

September 17, 2010
Viet Nam takes the lead on millennium goal

The Vietnamese government estimates public debt will total about 56.7 percent of gross domestic product by the end of the year.

The figure will include government debt totalling 44.5 per cent of GDP and loans that it has guaranteed totalling 12.2 percent of GDP.

Foreign debt will total 42.2 percent of GDP.

The figures are revealed in government estimates tabled in the National Assembly. The report puts total tax revenue for the year at VND520 trillion, about US$27 billion, an increase of 12.7 per cent against the initial estimate and 17.6 per cent higher than 2009. The report says the extra revenue will enable the government to meet its fiscal obligations and reduce overspending to less than 6 percent - 0.2 per cent lower than planned.

But most of the deputies at yesterday's plenary budget session were less than pleased with overspending of 6 percent.

They want it reduced to less than 5 percent.

And Deputy Nguyen Minh Thuyet of northern-border Lang Son Province disagreed with the way in which the figure of 56.7 percent of GDP was calculated.

International practice would have had the money the banks and State-owned enterprises owe in the total, the deputy argued.

"Our public debt must be no less than 70 percent of the country's GDP based on that definition," he said.

He asked the government to provide a further explanation of the debt.

Deputies Do Thi Lan, of northern Quang Ninh Province, and Le Van Thanh, of Hai Phong City, asked the government for stronger measures to keep overspending under 5 percent, particularly its oversight of state-funded projects.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand