Vietnam, Laos share experience in public debt management

Lao National Assembly Chairwoman Pany Yathotou said the event allowed participants to propose financial and foreign currency policies to ensure socio-economic development.

National Assembly Chairwoman Nguyen Thi Kim Ngan said public debt is a major issue for many countries around the world, including Vietnam and Laos .

The top Vietnamese legislator welcomed the Lao NA’s initiative to host the workshop to discuss this matter in an effective way, contributing to socio-economic development, financial safety and macroeconomic stability.

She said that governments should map out strategies to control investment in the public sector while reducing the state budget deficit, curbing foreign debts and improving State-run businesses’ investment efficiency.

Gross domestic product growth, inflation, interest rates, current account deficit, and foreign exchange reserves should be well controlled, she said, emphasizing the importance of coordination between relevant agencies under Government management and NA supervision.

Participants also discussed the role of the NA and State Audit in public debt management.