The Government leader chairs a meeting on fiscal and monetary policies on May 16.

Businesses, individuals, and the economy in general still face a host of difficulties and challenges and continued support is warranted.

Despite efforts to stabilize the macroeconomy, control inflation, and boost growth, results remain unsatisfactory.

At a government meeting on the morning of September 22, Prime Minister Pham Minh Chinh said that, in the context of an unpredictable global situation, monetary and fiscal policy orientations must be effective and coordinated closely with other policies to stabilize the macro-economy. He asked the State Bank of Vietnam (SBV) to research and raise the operating interest rate and the deposit rate but to try to keep the lending rate stable.

Vietnam one of four countries to receive an upgrade from Moody’s since the beginning of the year.

The World Bank (WB) has recommended that in order to boost the economy, the government needs to use fiscal policy to boost domestic demand in the short term by speeding up the disbursement of public investment capital.