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Vietnam battles public debt and budget deficit

Vietnam battles public debt and budget deficit

Crucial financial figures including high public debt and state budget overspending from 2011-2015 overshadowed Vietnam’s economy during the period, but the highlight was reaching 6.68 percent GDP growth in 2015.
Vietnam's Q1 budget deficit widens to $2.1 billion

Vietnam's Q1 budget deficit widens to $2.1 billion

Vietnam's budget deficit in the first three months of this year was valued at VND47 trillion ($2.1 billion), a 26 percent increase from the same period last year, the government's National Financial Supervisory Commission cited a deputy trade minister as saying at a press conference on Monday.
April 7, 2016 | 02:51 am PT
Vietnam targets GDP growth of 7 percent over next 5 years

Vietnam targets GDP growth of 7 percent over next 5 years

Vietnam expects average economic growth of 6.7 percent – 7 percent in the next five years, said the National Assembly on Tuesday in a resolution on the 2016–2020 socio-economic development plan.
April 12, 2016 | 01:12 am PT
PM: Vietnam targets to control budget deficit, public debt

PM: Vietnam targets to control budget deficit, public debt

Vietnam’s gross domestic product (GDP) in the first quarter of this year is estimated at 5.46 percent, down from 6.12 percent during the same period last year, signaling that the country’s economic growth might be losing momentum, Prime Minister Nguyen Xuan Phuc warned on Thursday at a meeting with senior officials from the Ministry of Finance.
April 21, 2016 | 11:27 pm PT
Vietnam’s economic growth to expand 6.9 pct in 2016-2017: UN report

Vietnam’s economic growth to expand 6.9 pct in 2016-2017: UN report

Vietnam’s economic growth is expected to grow 6.8 percent - 6.9 percent in 2016 and 2017 mainly on the back of continued consumer demand, said the United Nations on Thursday in its latest report for the Asia-Pacific region.
April 28, 2016 | 02:55 am PT
Bond sales slow down as banks buy less amid economic growth

Bond sales slow down as banks buy less amid economic growth

Vietnam’s banks are cutting investments in government bonds as the economy continues to grow, boosting demand for funds.
May 4, 2016 | 08:07 pm PT
Vietnam spends $2.3 billion to pay back foreign debts during Jan-Apr

Vietnam spends $2.3 billion to pay back foreign debts during Jan-Apr

Vietnam's government spent $2.3 billion to pay back foreign debts in the first four months of this year, a report by the Finance Ministry showed.
May 13, 2016 | 03:47 am PT
Fitch affirms Vietnam rating at 'BB-'; outlook stable

Fitch affirms Vietnam rating at 'BB-'; outlook stable

Fitch Ratings has affirmed Vietnam's long-term foreign and local currency issuer default rating at 'BB-' with a stable outlook.
May 20, 2016 | 03:53 am PT
Vietnam extends budget deficit to $3 billion from Jan-May

Vietnam extends budget deficit to $3 billion from Jan-May

Vietnam ran a budget deficit of VND66.4 trillion ($2.96 billion) in the first five months of this year, according to the General Statistics Office.
May 30, 2016 | 04:08 am PT
Vietnam to repay $12 billion in national debts in 2016

Vietnam to repay $12 billion in national debts in 2016

Vietnam will set aside VND273.3 trillion ($12 billion) to pay off maturing bonds and loans this year, according to the Prime Minister on Tuesday, of which VND95 trillion ($4 billion) will be used to roll over principal loans to stay afloat.
June 7, 2016 | 04:18 am PT
Vietnam seeks new loans to pay off mounting debt: BIDV

Vietnam seeks new loans to pay off mounting debt: BIDV

Vietnam is on the hunt for fresh credit to pay back existing debt after setting aside between 14 and 16 percent of total outstanding government loans and government-guaranteed loans to fulfil its debt obligations, said BIDV, one of the country’s largest lenders by assets, on Wednesday in a report.
June 8, 2016 | 04:11 am PT
Audit finds giant holes in Vietnam's local budgets

Audit finds giant holes in Vietnam's local budgets

Local authorities in Vietnam have misspent about VND1.3 trillion ($58.7 million) this year, mostly on heavy construction investments, putting the country at risk of missing its deficit reduction target for the year, according to the State Audit.
June 22, 2016 | 01:06 am PT
Vietnam sets economic targets for 2017

Vietnam sets economic targets for 2017

Vietnam aims to reach an annual economic growth rate of 6.8 percent next year through higher labor productivity and competitive capacity, according to the framework of a socio-economic development plan for 2017 laid out by the Ministry of Investment and Planning.
June 22, 2016 | 03:41 am PT
Vietnam pays back $3 billion on foreign debts during first half of 2016

Vietnam pays back $3 billion on foreign debts during first half of 2016

Vietnam's government spent more than VND68 trillion ($3 billion) to pay back foreign debts in the first six months of this year, said the General Statistics Office on its website.
June 29, 2016 | 02:50 am PT
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