National debt depends on growth pace, leader says
VGP – Việt Nam has so far maintained a safe national debt coefficient, less than 50% of the gross domestic product (GDP), said Deputy PM Nguyễn Sinh Hùng on Thursday.
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Deputy PM Nguyễn Sinh Hùng |
The country’s debt structure mainly consists of long-term ODA loans (from 30-40 years) with low interest rates or non-refundable conditions.
No longer standing in the least developing group, Việt Nam can now take some loans for better infrastructure and stronger education development.
The Government, as the Deputy PM said, is considering a new comprehensive strategy to identify a proper percentage of the national debt on the basis of the country’s development and growth in the next ten or 20 years.
In short-term, the Government will still continue to pursue a cautious but flexible monetary policy to secure the dual target of high economic growth and low inflation rate, Deputy PM Hùng assured.
The first and foremost priority is to lower interest rates so that businesses can enjoy a wider assess to financial resources, he confirmed.
By Hải Minh
