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Update news Fiscal policy
Some friends of mine asked me the other day if they should buy USD to hoard after the forex trading band was raised by the State Bank of Vietnam (SBV) to 5 percent. In the black market, of course.
“As taut as a violin string" was the phrase used to describe the state of the budget and public debt. After five years of applying flexible solutions, the situation has now become different.
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.
Prime Minister Nguyen Tan Dung emphasised that Viet Nam hoped to increase co-operation with the International Monetary Fund (IMF), while receiving IMF Deputy Managing Director Mitsuhiro Furusawa in Ha Noi June 12.
Only when Vietnam tightens fiscal policy and loosens monetary policy will it be able to make a breakthrough in allocating resources, which would untie the knot of the national economy, experts have said.
Growth of U.S. economy will remain tepid through 2013, before accelerating in 2014, said the International Monetary Fund (IMF) on Friday.
VietNamNet Bridge – Vietnam has been mostly relying on the monetary policies in regulating the national economy, while the fiscal policy has been ignored.