Vietnam’s budget deficits during the 2009 – 2011 period were the highest among Asian countries, according to remarks by the Asian Development Bank and the International Monetary Fund.
The average budget deficit in the said three years was 3.7 percent of GDP per year. The figure is three times higher than that of Indonesia, more than double China, and 1.5 times higher than Thailand. Recent research by the National Assembly’s Committee for Economic Affairs also found that the average budget deficit since 2008 is much higher than the figure in the previous years.
Specifically, the budget deficit relative to GDP from 2003 to 2007 was only 1.3 percent, but the figure more than doubled to 2.7 percent in the 2008 – 2012 period.
Total public debt rose from 40 percent at the end of 2007 to some 56.3 percent of GDP in 2010, and 55.4 percent in 2012.
In the same period, Vietnam’s foreign debt jumped from 32 percent to 42 percent of GDP, according to the research.
Đăng ký: VietNam News