Vietnam’s debt-to-GDP ratio seen below 57% by 2021: HSBC

Tuesday,  Jan 14, 2020,12:11 (GMT+7)
Vehicles travel on Vo Van Kiet Avenue in HCMC. This road was funded by official development assistance loans – PHOTO: VNA

HCMC – If the Vietnamese Government continues its fiscal consolidation, the public debt-to-gross domestic product (GDP) ratio could be further reduced, possibly reaching below 57% by 2021, said an HSBC report.

“Elevated public debt has fallen consistently over the years,” said the “Vietnam at a glance: The Good, the Bad and the Needed” report which the Hongkong and Shanghai Bank Corporation (HSBC) released last week.
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Vietnam targets 7% annual GDP growth over next five years

HANOI, April 14 (Reuters) – Vietnam’s government said it will target annual gross domestic product growth of 7% during the 2021-2025 period, even as the COVID-19 pandemic threatens to derail global trade and production.

The Southeast Asian country’s economy grew at its slowest pace in the first quarter of this year, at 3.8%, as the new coronavirus outbreak hit economic output.

The government said in a statement posted on its website late Monday that it will continue to improve its business environment and infrastructure, expand its export markets, apply advanced technologies and promote the development of the private sector over the next five years.

Vietnam, which has one of the fastest growing economies in Asia backed by robust exports and foreign investment, has this year struggled to maintain growth momentum due to the virus, which has halted business operations.

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