In an interview with The Saigon Times, Dr. Nguyen Quoc Viet, deputy director of the Vietnam Institute for Economic and Policy Research (VEPR), discusses how to take a fiscal policy approach that can help mobilize resources from society in general and tax revenues in particular to create the best conditions for the economy to grow. Why not tightened? The Saigon Times: Recently, Minister of Finance Ho Duc Phoc said at the National Assembly that by the end of 2024, we should wrap up the expansionary fiscal policy as the global trend now is to enhance public finance. What is your view on this matter? Dr. Nguyen Quoc Viet: After Covid-19, most countries rolled out stimulus packages to restore economic growth and alleviate difficulties faced by households and businesses. Vietnam is no exception. At the recently concluded 7th sitting of the 15th National Assembly, NA deputies discussed and passed a resolution on the results of a review of the implementation of Resolution 43/2022/QH15 on fiscal and monetary policies meant to support economic recovery and development. Fiscal programs – such as reducing value-added tax by two percentage points (to 8%) for certain groups of items, lowering environmental taxes and fees, providing two-percentage-point […]
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