Vietnam's government debt increased rapidly between 2010 and 2014. (Photo: VnExpress.net)
Vietnam’s government debt increased to 1,826 trillion dong ($85.95 billion) at the end of 2014, surging 105.3% from 889.39 trillion dong four years earlier, data of the Ministry of Finance showed.
As defined by the ministry, these are debts arising from loans contracted in the country and abroad, which were signed on behalf of the State and government or other loans signed, issued, or authorized by the Ministry of Finance.
Of the sum, foreign debt totaled $38.13 billion, accounting for 44.36% of the total. The respective figures for 2010 are $28 billion and 59.6%.
In 2014, the Vietnamese government spent 260.8 trillion dong ($12.29 billion) on debt servicing, rising from $4.7 billion in 2010.
Vietnam’s government debt is calculated at 46.4% of GDP
at the end of 2014 and public debt
According to a Ministry of Finance report, government debt increased to 50.3% of GDP at the end of 2015, breaching the ceiling of 50% of GDP.