These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people's livelihoods.
Thailand's economic expansion accelerated in the second quarter on the back of stronger consumption, tourism, and exports, but analysts said policy uncertainty following a change in government clouds the outlook.
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4% in the first half of this year.
Prime Minister Pham Minh Chinh on July 6 ordered efforts be made to achieve an economic growth rate of 6.5 - 7% in the third quarter to secure the best possible results for the entire 2024.
Vietnam is recommended to continue to strengthen the fiscal framework, fiscal discipline, and upgrade the medium-term financial framework, according to the International Monetary Fund (IMF).
The Government's drastic directions in financial and monetary management, and growth support in the first quarter of 2024 are a foundation helping Vietnam's economy overcome difficulties and achieve impressive growth amidst a variety of challenges of the world economy, according to economists.
The National Assembly (NA) on November 10 adopted a resolution on the state budget estimates for 2024, which targets next year’s state budget collection at over 1.7 quadrillion VND (nearly 69.8 billion USD).
Several measures have been suggested at an online seminar held by the Government Portal on May 28 to help the corporate bond market maintain its stability and operate in line with law to aid economic growth.
Given the great pressure caused by domestic and external difficulties and challenges, Prime Minister Pham Minh Chinh has underlined the need to stay steadfast in the targets of firmly maintaining macro-economic stability, controlling inflation, boosting growth, and guaranteeing major balances of the economy.
With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.
Amid the US Federal Reserve (FED)’s continuous increases of interest rates to cope with inflation, the most important task for Vietnam now is to keep macro-economic stability, with monetary stability being the core, economic experts have said.
Prime Minister Pham Minh Chinh chaired the Government’s monthly meeting on October 29 during which he requested policy response be made in a more timely, precise, and effective manner.
Prime Minister Pham Minh Chinh has assigned urgent tasks to particular ministries and agencies to deal with current economic difficulties in the new situation during a Government law-building session on September 22.
The Finance Ministry said on September 6 that Moody’s Investors Service has upgraded Vietnam’s long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable from positive.
The Executive Board of the International Monetary Fund (IMF) has highly valued Vietnam’s policy support to cushion the impact of COVID-19 in tandem with successful maintenance of fiscal, external, and financial stability and an impressive vaccination rollout.
In 2022, the Ministry of Finance will continue to study, propose and promptly implement policies on budget collection and spending to support those severely affected by the COVID-19 pandemic, creating a new impetus for socio-economic recovery and development.
The World Bank has suggested the Vietnamese Government early devise back-up plans in case the COVID-19 pandemic could last one or two more years, and conduct vaccination in parallel with testing to control the pandemic and mitigate its economic loss.
The debt management in Vietnam requires reforms to meet the requirements of management amid radical changes in development of the country and gradually move closer to international practices.
Incomplete statistics show that businesses have enjoyed cuts of at least 100 trillion VND (4.25 billion USD) to support them amid the COVID-19 pandemic.
