Banking & Finance

As of July 15, budget revenue collection reached VND697.5 trillion (US$30.17 billion), equivalent to 46.1% of the year's estimate.

Core inflation rose 2.74% year-on-year in the first seven months of 2020.

While the banking has to continue its efforts to deal with bad debts, credit institutions are required to support the economic recovery efficiently, said Prime Minister Nguyen Xuan Phuc.

In the long term, high gold prices could affect prices of other goods, weaken the Vietnamese dong and push inflation, said expert Nguyen Tri Hieu.

The reducing and waiver of securities services fees would last until June 30, 2021.

This marked the sharpest drop among stock markets globally during today’s trading session.

Moody's rating action concludes the review for downgrade initiated on April 7, 2020.

Further monetary and fiscal support in the second half of this year could push growth closer to the government’s target of 4-5%.

The development of a Covid-19 vaccine is necessary for the Vietnam's economy to return to its pre-Covid-19 status.

Vietnam’s stock market has been the platform to help firms like Vietcombank, Vinamilk and Vingroup, expand to regional and global stages.

Half of the number of laborers have their income reduced by at least 20%, with the majority being low-skilled workers.

While a number of supporting packages are in place, only a small proportion of enterprises have actually benefited from the policy.

Vietnam’s central bank is expected to pursue a stronger dong, especially as this might weigh on the recovery of the country’s export-oriented manufacturing sector over the coming months.

The government is looking at loans and government bonds, among others, to meet growing demand of state expenditure.

In the most optimistic scenario, Vietnam’s economy is predicted to expand 2.6% year-on-year, lower than the International Monetary Fund (IMF)'s forecast at 2.7%.

For this year, 24 out of 63 provinces/cities have fully disclosed information on their respective budgets, scoring 75 points and more, while in 2018, only six provinces did so.

Vietnam could widen fiscal deficit and public debt by an additional 3 – 4 percentage points of GDP without affecting the national financial security in the short- and long-terms.

To build economic recovery and install supply chain resilience, HSBC advocates three reform planks: trade and investment flows; digital connectivity; and linking nation development projects to globally agreed sustainable development goals.

Vietnam’s central bank is willing to increase the credit growth limits for banks from now until the end of the year to support economic growth.

Inflationary pressure in the remaining six months would be insignificant as the oil prices are unlikely to surge, which is a result of a possible global economic recession.