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Update news crude oil prices
The plummeting world crude oil prices will not have too great impact on Vietnam’s State budget revenue, said Vo Thanh Hung, head of the State Budget Department under the Ministry of Finance.
The dollar stood near a 14-year peak, bond yields were highly elevated and Asian stocks struggled for traction on Friday as global markets continued adjusting to the idea of higher U.S. interest rates.
Asian shares and the dollar were on tenterhooks on Tuesday as investors awaited the looming outcome of the Federal Reserve's rates review,
Asian stocks were mostly lower on Friday as the dollar climbed to seven-month highs against a basket of currencies and dragged down crude oil prices, cooling investor risk appetite.
Asian shares joined a global markets slump on Friday after the European Central Bank's stimulus package fell well short of markets' high expectations, sending the euro rocketing to its biggest one-day surge in nearly seven years.
VietNamNet Bridge – Economists have warned that the drop in the crude oil price will put pressure on the public debt, because the government will have to issue more bonds and increase borrowing.
VietNamNet Bridge – The government says the 2014 state budget will be “safe”, though the crude oil price has been falling in the world market. However, government officials admit that the continued oil price decrease has raised major concerns.