Vietnam’s public debt increases by over $3 billion in five months

Vietnam’s public debt increases by over $3 billion in five months

VietNamNet Bridge - On average, each Vietnamese person bears about $921 debt, higher than the projected figure for entire 2014 and over VND500,000 ($25) up in just five months.

According to the map of the world debt of The Economist dated August 20, Vietnam’s public debt stood at $83.412 billion.

Based on the population of 90.87 million, each Vietnamese is bearing a debt of about $921.02. This figure is higher than the statistic on March 27 by about $34, and exceeded the expected number of $888 for 2014.

Compared to the safe level recommended by international organizations (less than 65% of GDP), Vietnam's public debt will remain in this range, when it hits 40.7%.

Comparing to the rate in March, the scale of public debt to GDP has declined sharply, and per capita growth is much slower (from January 2013 to March 2014, public debt increased by $100/person).

In April, the government approved the loan and repayment plan of the Ministry of Finance in 2014, including VND376 trillion of domestic loans, $4.52 billion of foreign loans, and payment of government debt of VND208.883 trillion.

For government-guaranteed loans, the maximum limit for domestic debts is VND70.492 trillion and $2.8 billion of foreign loans.

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