🇻🇳 Vietnam
Public Sector Debt · 2026
Total Debt
36.3%
of GDP
Global Rank
#160
of 192
S&P Rating
BB+
Credit rating
SOE Debt
+4.5%
1 categories
Where the Debt Sits
Central Government
Energy SOEs
Central Government: 31.8%Energy SOEs: 4.5%
Who Holds This Debt
Holder Breakdown
Domestic 98%
Domestic: 98%Foreign: 2%
Currency Denomination
Local 75%
Foreign 25%
Local currency: 75%Foreign currency: 25%
Full Debt Breakdown
Central Government31.8% of GDP
Central GovernmentIMF WEO — General Government Debt
31.8%Energy SOEs4.5% of GDP
EVN (Vietnam Electricity)EVN / The InvestorTotal liabilities VND 474.63T. Debt-to-equity >2.3x. Returned to profit in 2024.
3.9%Petrovietnam (PVN)Vietnam NewsProfitable but carries debt from upstream investments.
0.6%Total Corporate Debt78.0% of GDP
Nonfinancial corporate debt (total)OECD Survey 2025 (2023 data)EVN, PetroVietnam, Viettel. SOE portion ~15-20%.
78.0%Household Debt52.0% of GDP
Household debtOECD Survey 2025 (2023 data)Growing rapidly. Property market concerns.
52.0%Unfunded Pension Liabilities25.0% of GDP
Social insurance unfunded pension (est.)ILO Vietnam review; ADB 2023Fund depleted by 2040s. Coverage only ~35% of workforce.
25.0%All Layers Total191.3%
Credit Ratings
S&P
BB+
Moody's
Ba2
Fitch
BB+
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202631.8% GDP
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