HÀ NỘI — Việt Nam's public debts have been kept at a sustainable and stable level, which has given room for the country to implement reasonable and expansionary fiscal policies when necessary, such as during the COVID-19 pandemic, Minister of Finance Hồ Đức Phớc said. According to Phớc, Việt Nam’s public debt-to-GDP ratio decreased from 43.1 per cent in 2021 to only 37 per cent by early 2024, while the ratio approved by the National Assembly stands at 60 per cent. The restructuring of Việt Nam’s public debt has also been improved. These positive steps can be attributed to the country’s efforts in fiscal consolidation and public debt control. To manage public debt in a sustainable way, the Ministry of Finance said it will continue to strengthen supervision, inspection and audit of public debt, besides publicising public debt information and constantly improving the legal framework for public debt management.

Source: Viet Nam News March 11, 2024 01:59 UTC