Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the latest information released by the Ministry of Finance.
Hanoi (VNA) – Vietnam’s public debt in the 2017-2021 perioddecreased dramatically from 61.4% of its GDP to 43.1%, according to the latestinformation released by the Ministry of Finance.
Government debt, government-guaranteed debt and localgovernment debt also decreased. Specifically, government debt, government-guaranteed debt and local government debt dropped from 51.7%, 9.1%, and 1.1% ofGDP in 2017 to 39.1%, 3.8% and 0.6% in 2021, respectively.
In addition, the country's foreign debt also decreased to 38.4% of GDP by the end of 2021 compared to 49% in 2017.
As of 2021, the country's obligation of foreign debtrepayment on total exports last year was 6.2%, while the government's debtrepayment obligation compared to state budget revenue was about 21.8%.
Notably,foreign debt decreased while domestic debtincreased. By the end of 2021, foreign debt was about 1.075 quadrillion VND(45.9 billion USD), while domestic debt rose to more than 2.2 quadrillion VND,accounting for 67.2% of outstanding government debt.
The Ministry of Finance's report showed that by 2021, Vietnam'slargest bilateral creditor was Japan with more than 316 trillion VND, followedby the Republic of Korea (32 trillion VND), France (30 trillion VND) andGermany (14 trillion VND).
Meanwhile, the World Bank was the biggest multilateral lender of Vietnamwith over 380 trillion VND, followed by the Asian Development Bank with 188trillion VND.
In April, Deputy Prime Minister Le Minh Khai signed adecision approving the public debt strategy until 2030, which sets a target ofkeeping it at under 60% of the GDP and Government debt not exceeding 50% ofthe GDP in 2030./.
The building of economic recovery solutions will depend on the development of COVID-19, the progress of vaccination and the capacity of supplying COVID-19 treatment medicine when the country switches to the new normal situation, said Minister of Planning and Investment Nguyen Chi Dung.
Deputy Prime Minister Le Minh Khai has signed a decision approving the public debt strategy until 2030, which sets a target of keeping it at under 60 percent of the GDP and Government debts not exceeding 50 percent of the GDP in 2030.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
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Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Illustrative image (Photo: VNA) 
