2019年，越南财政收入继续增长，财政赤字占GDP比重明显下降，但绝对数值下降不大。从2017年开始，越南推行结构性减债措施，扩大内债减少外债，取得明显成效，风险警报得以解除。然而，债务绝对数额庞大，未来几年还债的压力依然比较沉重。2019年，越南的证券市场表现较为平淡，在经历了年初的反弹后，越证指数在一千点上下窄幅震荡。值得注意的是，由于近两年来地产金融崛起，越南股市正经历着结构性变化，股市的资产配置功能进一步凸显。在财富榜上，首富范日旺继续领跑，其构建的以地产为核心的资本帝国正在向多个产业辐射。
Vietnam’s fiscal revenue continued to grow in 2019，and its fiscal deficit as a percentage of GDP declined significantly，but not by much in absolute terms. Vietnam has implemented structural debt reduction measures since 2017 to expand domestic debt and reduce external debt，with notable results and the risk alert lifted. But the absolute amount of debt is high，and the pressure for repayment remains heavy in the coming years. The performance of Vietnam’s stock market lacked sparkle in 2019，with the Vietminh index trading in a narrow range around 1，000 points after a rebound at the start of the year. It is worth noting that due to the rise of real estate finance in the past two years，the Vietnamese stock market is undergoing structural changes，with the asset allocation function of the stock market further highlighted. The richest man，Pham Nhat Vuong，continues to lead the wealth list，and his property-centered capital empire is spreading to a number of industries.
| Keywords： | VietnamStock MarketFinance and Banking |
