HANOI, March 11 (Xinhua) -- Vietnam's public debt-to-GDP ratio decreased from 43.1 percent in 2021 to 37 percent by early 2024 while the ratio approved by National Assembly or the parliament stands at 60 percent, Vietnam News reported Monday, citing Minister of Finance Ho Duc Phoc.
Ho said the country's public debts had 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.
With the current low debt-to-GDP level compared to the cap rate and the favorable debt structure, Vietnam still has large room to mobilize public debt to finance essential and key infrastructure projects for future development, he said.
According to the report, in the meantime, outstanding domestic debt has increased, accounting for about 71 percent of the government's outstanding debt. ■
