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Finance ministry works with S&P on sovereign credit rating
The Ministry of Finance on Tuesday worked with credit rating agency S&P Global Ratings to assess the creditworthiness of Việt Nam in 2024.
Containers at a port in Hải Phòng. The Ministry of Finance on Tuesday worked with credit rating agency S&P Global Ratings on the assessment of the creditworthiness of Việt Nam in 2024. — VNA/VNS Photo Tuấn Anh
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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.
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