Vietnam’s public debt per person below China’s

Tuan Minh

09:42 12/10/2015

BizLIVE - Vietnam’s public debt per person already surpassed 1,016 USD on October 11, but still lower than China’s 1,263 USD, according to The Economist’s global debt clock.

Vietnam’s public debt per person below China’s

Vietnam's public debt per person has exceeded 1,016 USD. (Photo: Internet)

Vietnam’s public debt swelled by 9.6% over the past one year to 92.64 billion as of October 11, equivalent to 46% of the country’s gross domestic product (GDP), putting the country's debt situation at the median level, according to the Economist’s classification.
The global debt clock showed that Vietnam’s public debt was 22.3 billion USD in 2005 or 268 USD per person.
The Vietnamese Ministry of Finance on October 2 reasserted that the country’s public debt was 59.6% of GDP at the end of 2014 as per the current legislation, rejecting an estimation of 66.4%-of-GDP recently released by the Ministry of Planning and Investment.
The World Bank said in a report in July that Vietnam’s public debt amounted to 2,346 trillion dong or 110 billion USD at the end of 2014, equivalent to 59% of the nation’s GDP which was 186.2 billion USD. Accordingly, Vietnam’s public debt per capita would be 1,212 USD at the end of last year.