Vietnam’s public debt in 2023 amounted to VND3.8 quadrillion, equivalent to 37% of gross domestic product (GDP), according to the Ministry of Finance.

Vietnam’s public debt accounted for 37.4% of the country’s gross domestic product (GDP) as of the end of 2022, while national external debt stood at about 36.1% of GDP, according to data released by the Ministry of Finance (MoF).

The Government has put forth a proposal to borrow VND676 trillion (US$27.5 billion) in 2024 to address budget deficit, service existing debt and provide additional loans.

The Government’s debt repayment in 2023 is done as committed and within the approved estimate by competent authorities, as stated in the report on public debt status in 2023.

The Ministry of Finance has completed a draft report on mid-term assessment of the public debt payment and borrowing plan for the 2021-2025 period.

 VietNamNet Bridge – The National Assembly on Wednesday passed a plan on a pay rise of 5% from the middle of next year and the use of part of revenue from the sale of State-owned enterprises to compensate for a budget deficit in 2015.