Of the figure, VND804,242 shall be used to offset overspending and repaying debts payments, up 21.9 percent against 2024. The rest shall be used for refinancing.

The Government also said it plans to repay debts worth nearly VND470 trillion next year, accounting for around 24 percent of the total budget revenue estimates.

It is estimated that the Government's debts and national debts would be around 34-35 percent and 33-34 percent, respectively, by the end of 2025.

The National Assembly approved the government's proposal to borrow over VND690 (US$28.35 billion) in 2024, 6 percent higher than its borrowings in 2023.

Viet Nam's ratio of public debt to GDP decreased from 63.7 percent in 2016 to 37 percent in 2023, which means the pressure from public debts eased significantly over the past nine years, according to the Ministry of Finance./.