If Vietnam becomes insolvent, this will have serious implications for the national economy, not just for several years, but for a few decades, economists have warned.
VOV.VN - World Bank economists have urged Vietnam to be more prudent in its fiscal policy as the country’s public debt is close to the set limit of 65% of the Gross Domestic Product (GDP).
Finance Minister Dinh Tien Dung has spoken highly of the International Monetary Fund (IMF)’s support for Vietnam in assessing the country’s macro-economy.
Vietnam will benefit from plenty of opportunities through economic integration and reform, however they can only be realised with suitable policies, said Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung.
Vietnam is an attractive destination for investment amid a lackluster global economy, Nirukt Sapru, CEO of Standard Chartered Bank Vietnam said in a recent report.
A national symposium was held in Hanoi on January 13 to review Vietnam’s economy last year, and point out the opportunities and challenges of international integration.
Prime Minister Nguyen Tan Dung on November 27 ordered local governments and state agencies to collect VND70 trillion (US$3.06 billion) in back taxes by the end of the year amid budget concerns.
The 10th session of the 13th National Assembly concluded on November 27 after more than one month of sitting, with 16 laws and several resolution adopted and 10 draft laws scrutinised.
Public investment restructuring is still sluggish and has not focused on measures improving investment effectiveness, many experts pointed out at a seminar in Hanoi on November 24.
(VOV) - East Asia remains one of the main growth drivers of the world economy, accounting for nearly two-fifths of global economic growth, according to a new World Bank report.
A finance ministry official has refuted the figure of public debt in 2014 as given by the Policy and Development Institute under the Ministry of Planning and Investment, saying that the method of calculation is not in line with regulations.
The Asian Development Bank (ADB) is willing to provide long-term and low-interest-rate loans for Vietnam’s major socio-economic infrastructure projects, its new Country Director Eric Sidgwick assured Prime Minister Nguyen Tan Dung during a meeting in Hanoi on September 21.
The Ministry of Finance (MOF) said that Vietnam’s public debt was still within the safety line but economists say they can see high risks.
Vietnam Fatherland Front President Nguyen Thien Nhan overviewed his country’s economic development potential to an audience of German politicians, businesspersons and bankers on June 29 as part of his working visit to the European nation.
The latest dong one-percent devaluation on May 7, though described as “unavoidable”, has raised controversy, because this will lead to a heavier public debt burden.
(VOV) - Titled “Continuing to reform the investment and business climate in Vietnam: Turning Words into Action”, the 2015 Spring Economic Forum opened on April 21 in Vinh City, central Nghe An province.
ADB has predicted that Vietnam’s public debt may reach 60% of GDP by 2016.
Vietnam’s public debt rate may climb to 60% of the country GDP in 2016 and economists say the rate may be much higher than the Asian Development Bank (ADB) has forecast.
Vietnam will continue to accelerate its economic restructuring and growth model shifting to increase its competitiveness and stimulate growth in 2015, stated Deputy Prime Minister Hoang Trung Hai.
(VOV) - Vietnam’s public debts were estimated at more than US$86.267 billion as of 8:40am (local time) on December 28, accounting for 47% of the country’s GDP, according to Global debt clock at The Economist.com.