Its highest value over the past 22 years was 9.98 in 1999, while its lowest value was 1.98 in 2008. Share Tweet Post Email Vietnam… Vietnam needs to reform its tax collection system to reduce the burden and cut spending on administrative management. In addition, Vietnam reported 35 Coronavirus Deaths . VietNamNet Bridge - The bad debt ratio of the banking system has decreased, but the bad debt value has begun to increase again. “The public debt's burden is on the government, but in reality it weighs us all down, and it is getting heavier.” According the Global Debt Clock, with the 90.6-million-strong population, Vietnam’s public debt per person has hit $901.05, four times higher than it was 10 years ago. Vietnam recorded 2501 Coronavirus Cases since the epidemic began, according to the World Health Organization (WHO). Germany ’s debt ratio is currently at 59.81% of its GDP. The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.. Vietnam Shifts to Bonds as Sour-Debt Burden Strains Bank Lending Nguyen Kieu Giang, August 14, 2014, 10:31 PM EDT SHARE THIS ARTICLE. Government spending has been 21.6 percent of GDP in the last three years, budget deficits have averaged 2.9 percent of GDP and public debt is equivalent to 42.9 percent of GDP, the think tank said. Its overall score has increased by 2.9 points, primarily because of an improvement in fiscal health. HÀ NỘI — The effective management of foreign loans has transformed Việt Nam from a poor and heavily indebted country to one that international organisations consider to have a controlled external debt and is not in the group of countries with a debt burden.. Germany’s total debt is at approximately 2.291 trillion € ($2.527 trillion USD). This page includes a chart with historical data for Vietnam Coronavirus Cases. Related News: > Vietnamese lawmakers deny debt ceiling increase, insist gov't control spending >Soaring national debt puts increased pressure on Vietnam’s aging population Financial allocation and management tasks should be assigned to local authorities and they must uphold their responsibility of ensuring transparency, the conference was told. Banks still cannot put bad debt burden down. The growing debt will impose a steadily increasing burden on the economy, and make it ever harder to cut the budget deficit, which hit 6.1 percent of GDP last year. Canada experienced a gradual decrease in debt after the 1990s until 2010 when the debt began increasing again. Vietnam’s economic freedom score is 61.7, making its economy the 90th freest in the 2021 Index. Malaysia, Cambodia and Vietnam have the next highest debt ratios in the region, according to the study. The information was released at a conference on national debt management held in Hà Nội on Tuesday. The country’s upmove came thanks to improvements in fiscal health, government spending, tax burden, trade freedom, and monetary freedom. Vietnam - Total debt service (% of exports of goods, services and primary income) Total debt service (% of exports of goods, services and primary income) in Vietnam was 7.09 as of 2018.