Vietnam Economy Vietnam’s debt-to-GDP ratio seen below 57% by 2021: HSBC By Thanh Thom Tuesday, Jan 14, 2020,12:11 (GMT+7) Vietnam’s debt-to-GDP ratio seen below 57% by 2021: HSBCBy Thanh Thom 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. Thanks to receding government guarantees, continued fiscal consolidation and rapid economic growth, the public debt-to-GDP ratio declined from its peak of 63.7% of GDP in 2016 to 58.4% in 2018, falling further below its self-imposed debt ceiling of 65%. Meanwhile, external public debt risk is arguably lower than what the headline figure suggests, as a large share is in the form of official development assistance with favorable loan conditions, such as low interest rates and long repayment periods. HSBC also warned that significant challenges for the economy remain, with… Read full this story
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