Public debt near red line: NA deputies
The second session of the National Assembly on November 1 continued with debates on a five year financial plan, targets and orientation for the mobilisation and use of public investment loans as well as public debt management during 2016-2020. Finance Minister Đinh Tiến Dũng presented a report on national public debt by providing data that shows the reality of public debts over the past five years. Dũng said public debt reached US$117 billion last year, or an increase of 2.3 fold over 2010 and 14.8 fold over 2001. He said the annual growth pace of public debt in the 2011-15 was 18.4 per cent, or three fold over annual GDP growth rate, which was about 5.9 per cent. Many deputies agreed with the report’s assessment on the current situation of public debt saying that the mobilisation and use of loans and public debt management in 2011-2015 had been presented extensively.
