Economic Recovery

The cut, which begins from this month to late 2021, will depend on each bank’s financial situation.

Entering 2021, Vietnam will continue its recovery momentum by benefiting from domestic consumption, stable trade growth, and FDI inflows.

Once Vietnam is able to contain Covid-19, the country would regain its growth momentum quickly, stated the HSBC.

A flexible and efficient combination of both monetary and fiscal policies is essential to keep stable macroeconomic conditions.

Depending on the actual situation of each province/city, priority should be given for containing the pandemic, boosting growth, or both, Prime Minister Pham Minh Chinh has said.

Hanoi aims to realize economic growth of 7.5% this year, for which the support and contribution from the press are essential, the Hanoi Party chief has said.

High budget revenue in the five-month period was thanks to economic recovery trend that has stated since late 2020.

The government may want to consider a new fiscal stimulus that would include a more generous assistance package for Covid-19 affected people and businesses, stated the World Bank.

German business leaders in Vietnam maintain positive view with the economic expectation while looking forward to a recovered year of 2021 and 2022.

The growing number of newly established enterprises shows the local economy is firmly on the recovery track, being an attractive destination for businesses.