Vietnam public debts hovers around 52pct of GDP

Vietnam’s public debts in 2009 hovered around 52 percent of the country’s GDP and ranked 44th out of 129 countries in the world behind United States, Morocco and Kenya according to the CIA’s World Fact book. The lowest ratio was 1.1 percent and the highest 304.3 percent and public debt exceeded 50 percent of GDP in 44 countries.

The Philippines was the only Asean country where public debt as a ratio of GDP exceeded Vietnam’s in 2009. Greece, which is on the verge of bankruptcy, saw its public debt equal 108.1 percent of GDP.

However, Vietnam’s public debts was still below the world’s average level of 56 percent of GDP, said Tran Dinh Thien, vice director of Vietnam Economic Institute.

Vietnamese officials also said that the country’s public debt is still under control, even if it rises further.

The report indicated that top countries in terms of public debts were Zimbabwe with 304 percent of GDP, and Japan 192 percent.

According to the Ministry of Finance, Vietnam’s foreign debt as of June 30, 2009, equalled 29.8 percent of GDP (US$23.6 billion). – Dau tu

Tags: Vietnam public debts

Posted by VBN on Aug 12 2010. Filed under Banking-Finance, Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry