Vietnam has been ranked 12th by the Bank of America of countries with the most at-risk public debt.
Topping the list is Venezuela, followed by Greece and Ukraine.The ranking is based on the price of credit default swaps on government bonds, a type of insurance against governments not repaying debt.
The National Assembly's Finance and Budget Committee senior expert, Bui Duc Thu, said the ranking helps raise a warning on Vietnam's indebtedness, but the level of public debt is not dangerous.
"Public debt to GDP is 64 percent. By the end of 2015, it may rise to 65 percent, still a safe number," Thu said.
He said the government should tighten financial management to prevent budget deficits.
"Lax financial discipline means localities keep spending more than the state budget allocates. The National Assembly should look into this matter in order to stabilise the macro economy," Thu said.
