It is expected that Vietnam's public debts
would be equal to about 58.4 percent of gross domestic product (GDP) by the end
of 2012, and 65 percent of GDP by 2015, the local newswire Phat Luat TP HCM
reported citing some specialists as saying at the conference on restructuring
public investment and state-owned enterprises (SOEs) held by Vietnam Institute
of Economics on May 3 in Hanoi.
According
to the statistics from the Ministry of Finance (MoF) cited by economist Vu Dinh
Anh, as of the end of 2011, the country's public debts accounted for 54.6
percent of GDP, equalling to $50 billion.
It is
estimated that by the end of 2012, Vietnam's public debts would be about 58.4
percent of GDP and it would be 65 percent of GDP by 2015.
As
forecasted by International Monetary Fund (IMF), by 2015, Vietnam's public
debts would be about $86.2 billion.
Anh
said that Vietnam's public investments account for high proportion in the total
social investment capital. The investment capital ratio from the State budget
accounted for more than 50 percent during 2005-2009 period and 2011.
To
complete projects, Vietnam mostly has to borrow domestic and foreign capital
sources and therefore the state budget is facing a spiral of debt with
increasing debt scale. And added that this is a barrier for growth and more
importantly Vietnam now has no agency that is responsible for public debt
management.
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