Public debt remains stable with debt structure positive

Vietnam’s public debt in 2023 was kept stable and sustainable and within the limits approved by the National Assembly (NA), ensuring national financial security, according to the Ministry of Finance (MoF).

As of the end of 2023, the country’s public debt was equivalent to 37 per cent of GDP, or much lower than the cap of 60 per cent set by the legislature.

Meanwhile, government debt was around 34 per cent of the GDP, or comfortably below the 50 per cent limit.

The country’s debt structure remains positive, in which domestic debt accounts for 71 per cent of government debt.

Last year, the State Treasury raised VND298.476 trillion ($12.4 billion) in government bonds, equal to 98 per cent of the target set by the Ministry of Finance and up 39 per cent year-on-year.

The State Treasury has announced that it plans to raise VND400 trillion (over $16.25 billion) worth of government bonds via auctions this year.