ISSUE OF LOCAL GOVERNMENT BONDS – DECISION TO IMPLEMENT THE STRATEGY OF PUBLIC DEBT OF VIETNAM

Abstract

Despite the difficult international situation, exacerbated by geopolitical tensions in the world in general and the COVID-19 pandemic, the Vietnamese economy is gradually recovering, but certain difficulties and problems still remain. In recent years, thanks to the active work of the Government of the Socialist Republic of Vietnam, timely decisions of the Ministry of Finance, other relevant departments and institutions, as well as local authorities, the goals of the Public Debt Strategy have been gradually implemented, corresponding to the implementation of the tasks of socio-economic development, poverty reduction and building the necessary infrastructure asynchronously. By 2020, the indicators of the national debt of the Socialist Republic of Vietnam are mainly within acceptable limits, but from the point of view of obligations to repay debt in the near future, potential risks still remain. This article is devoted to assessing the results of the implementation of Vietnam Public Debt Strategy for 2011–2020 for providing appropriate recommendations for ensuring national financial security, as well as mobilizing resources of local government bonds for effective and sustainable economic growth and development.

Keywords

• government budget
• government debt
• vietnam government debt strategy
• local government bonds