The World Bank (WB) has rated Vietnam’s overall debt management positively in its 2024 report, citing notable progress in the legal framework, particularly since the enactment of the Public Debt Management Law in 2017, and the establishment of internal processes to enforce it.

The increase in the USD/VND exchange rate in Vietnam is in contrast to the continuous cooling of the greenback in the international market due to a surge in domestic dollar demands for foreign debt repayment.

VOV.VN - For the first time, Vietnam’s State budget revenue has exceeded VND2 quadrillion in 2024, reflecting the robust development of the national economy, according to the Ministry of Finance.

Bamboo Airways is seeking additional capital of around VND1.69 trillion (US$66.8 million) in the final months of 2024 to ensure its operational requirements, while also announcing the clearance of aircraft leasing debts.

Credit growth has accelerating since the beginning of June, signaling that the 15% growth target is achievable, if the rate is maintained in the remaining months of this year.

Vietnam’s industry sector has seen continuous recovery with the index of industrial production (IIP) expanding 6.0% year on year in the first four months of this year, according to the Ministry of Industry and Trade (MoIT).

VOV.VN - Vietnam’s public debt has been kept at a sustainable and stable level, giving the country room to implement reasonable and expansionary fiscal policies when necessary, said Finance Minister Ho Duc Phoc.

The settlement of bad debts will face many difficulties this year as there are no legal regulations related to repossessing collateral assets, industry insiders said.

High demand during the Tet shopping season has prompted commercial banks to introduce credit offers worth hundreds of billions VND for consumers, said industry experts and insiders.

The State Bank of Vietnam (SBV) has set a credit growth target of 15% for the domestic banking system in 2024.