Vietnam is witnessing a strong reduction in its public debt following its close control of the issue, with the government exercising a stringent policy on increasing revenues and reducing expenditures.

The Government plans to borrow over VND1.7 quadrillion ($73.2 billion) in 2021-2023 to meet the capital demand for socio-economic development, according to the public debt management plan for the next three years approved last week.

A tightened fiscal policy and an effective control of state budget ultilisation have facilitated Vietnam in managing its public debt.

VietNamNet Bridge – Increased growth, reduced spending and less debt guarantees are the solutions as rising public debt and its repayment exerts a lot of pressure on the Government, 

VietNamNet Bridge - Vietnam takes pride in its original way of settling banks’ bad debt, which does not consume the state budget. 

 The European Central Bank (ECB) is expected to announce a huge bond-buying programme later on Thursday, aimed at revitalising the eurozone economy.

The path of U.S. monetary policy will remain "fully data-dependent" in line with the developments of economic growth, unemployment and inflation, and the current large-scale bond purchase program "will continue for some time,"

VietNamNet Bridge - This figure is equivalent to 54.9 percent of GDP in 2011, the Finance Ministry (MoF) said.