Finance ministry works with S&P on sovereign credit rating

VIETNAM, May 22 -  

HÀ NỘI — The Ministry of Finance on Tuesday worked with credit rating agency S&P Global Ratings to assess the creditworthiness of Việt Nam in 2024.

Deputy Minister of Finance Nguyễn Đức Chi said that despite global uncertainties, Việt Nam’s macroeconomy remains stable, with robust recovery of production, export and foreign direct investment.

Việt Nam registered a total trade value of US$238.88 billion in the first four months of this year, up 15.2 per cent over the same period last year. The country also ran a trade surplus of $8.4 billion in the same period.

The FDI influx rose 4.5 per cent to more than $9.27 billion.

Meanwhile, GDP growth reached 5.66 per cent in the first quarter of this year and is poised to fulfill the target set for the full year at 6-6.5 per cent.

Budget collection to date is estimated to reach up to 48 per cent of the plan for the full year with a healthy increase in domestic collection,  showing a strong recovery in domestic production and business.

The information from the Ministry of Finance will help S&P to assess the creditworthiness of Việt Nam accurately.

S&P Global Ratings will continue to work with other Government agencies on the rating this year.

In mid-2022, S&P Global Ratings upgraded Việt Nam’s sovereign credit ratings to ‘BB+’ with a stable outlook on improvements in the government's administrative processes and robust economic prospects after the pandemic. — VNS