vietnamnet 03/11/2020    07:00 GMT+7

Debt repayment obligatio

The government estimates that the public debt will be about 56.8 percent of GDP by the end of 2020; the government’s debt will be 50.8 percent; the government’s direct debt repayment obligation to state budget revenue ratio will be 24.1 percent; and the national foreign debt, 47.9 percent of GDP.

vietnamnet 2/11/2020    21:01 GMT+7

The government is taking a cautious view in setting its development goals for 2021, which is understandable due to lingering risks from the Covid-19 pandemic.

The Vietnamese National Assembly (NA)’s year-end meeting, scheduled to last for more than three weeks from October 20 to November 17, will focus on reviewing socio-economic development in 2020 and decide important matters related to socio-economic issues and the state budget for the next year. 

2020 economic review: Stays resilient despite Covid-19

Due to the Covid-19 pandemic, Vietnam’s GDP is estimated to grow at 2.0-3.0% in 2020 versus a target of 6.8% for the year.

This would result in the GDP growth rate averaging 5.9% over the 2016-2020 period, which falls short of the 5-year period target of 6.5-7.0%. Per capita GDP is estimated at US$2,750 in 2020, which also misses the target of US$3,200-3,500 by 2020.

vietnamnet 20/10/2020    10:31 GMT+7

Vietnam is making all-out efforts to boost the disbursement of public investment as it seeks to post GDP growth of 3 percent this year amid the global economic downturn triggered by the COVID-19 pandemic.

Construction of expanded Cao Bo Bridge in the northern province of Ninh Binh, a key section of the North-South Expressway. (Photo: VNA)

The Government views public investment as an engine for growth that can offset the impact of the pandemic.