Government lowers public debt ceiling

By Anh Minh   July 13, 2021 | 09:07 pm PT
Government lowers public debt ceiling
An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy.
Vietnam is set to cap public debt at 60 percent of GDP in 2021-25, down 5 percentage points from the previous five years.

According to the government’s budget plan, revenues are set to rise 20 percent during the period to VND8,300 trillion ($358.71 billion), and its average deficit is set to be 3.7 percent of GDP.

Commenting on the budget plan, National Assembly Chairman Vuong Dinh Hue said the government did not include a category that is to prepare for the implementation of the Public Investment Law.

This is needed since many key projects have not been planned specifically and are therefore delayed, he added.

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