Vietnam\'s foreign debt this year is expected to rise to 42.2% of the GDP which is considered acceptable by economists.
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| Members of the Parliament at the opening session of the 8th meeting of the 12th National Assembly being held in Hanoi. |
The figure was given by Prime Minister Nguyen Tan Dung in a socio-economic report during the opening session of the 8th meeting of the 12th National Assembly being held in Hanoi.
Vietnam’s central government debt would account for about 44.5%, while public debt would make up about 56.7% of the GDP by the year end.
The report also said that by late September, the capitalisation of the local stock market was estimated to hold around 31.6% of the GDP.
Vietnam may reach GDP growth of 6.7% this year, surpassing the National Assembly target.
The government leader, however, noted that the Vietnamese economy is facing latent risks. The national total trade turnover this year is forecast to rise 19.1%, three folds against the set year target, but trade deficit is projected at USD13.5 billion in 2010, 5% higher than 2009.
GDP growth highly depends on capital and labour factors, showing a slow improvement in the growth quality.
The country aims to keep Consumer Price Index (CPI) under 8% this year, but the local market has witnessed price changes.
Besides, the monetary tightening policies have also made many enterprises find it hard to get capital.
Dunng emphasised prolonged power shortages being among major factors hindering the national economic development.
