2011’s public debt accounts for 54.9 percent of GDP
(VOV) - The Finance Ministry has announced Vietnam’s public debt hit VND1,392 trillion by the end of 2011, equivalent to 54.9 percent the GDP for that year.
It said Government debt hit VND1,096 trillion, or 43.2 percent of GDP. Of the total, about VND429 trillion was borrowed from domestic capital sources, while the remainder was sourced from foreign loans.
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The total debts guaranteed by the Government reached VND285 trillion, equivalent to 11.3 percent of GDP.
The Finance Ministry said it is going to publish a bulletin on Vietnam’s public debt, the first of its kind in the country, to ensure transparency in financial management and improve the business climate in Vietnam.