Public dept within permissible limit though facing numerous challenges
(VOVworld) - Minister of Finance Dinh Tien Dung told the National Assembly that Vietnam’s public debt is still within permissible threshold though facing numerous challenges.
|
NA Vice Chairwoman Nguyen Thi Kim Ngan chaired the discussion |
He told the National Assembly session on Thursday that Vietnam needs an additional 170 trillion dong mobilized from government bonds in the next 2 years with a projected public debt of 60.3% of the GDP this year and 64% next year. The Minister cited unstable debt structure and short term repayment pressure as major challenges:
“We will propose amendments to the Laws on State Budget and Pubic Debt Management. Efforts will center on anti-smuggling, stable budget collection promotion through a complete review of major projects for trimming exercises and mainstreaming to avoid budget expenditure increase.”
National Assembly deputies agreed on a government’s target of 6.2% GDP growth for next year. They called fore drastic measures to tackle non-performing loans, private sector stimulation and credit support for rural agricultural development. Deputy Mai Thi Anh Tuyet from the southern province of An Giang: “The government must speed up agricultural restructuring and promote high-tech agricultural production with better connectivity with material supplies, traders, and market outlets. I recommend the removal of VAT on input materials for agricultural production.”