VOV.VN - Vietnam’s top legislature is set to consider sweeping temporary tax reductions on fuel, including a 0% environmental tax and 0% special consumption tax on petrol, as part of efforts to stabilise prices and ease inflationary pressures.

The United Overseas Bank (UOB) has maintained its economic growth forecast for Vietnam at 5.2% for 2023 and 6% for 2024 while forecasting that Vietnam will continue to cut regulatory interest rates in the remaining months of this year to balance economic growth and inflation pressure.

Vietnam is set to increase the base wage from July 2023.

Economists have forecast Vietnam’s inflation will be kept at around 3.3-3.8% this year, similar to the National Assembly-set target of below 4%, adding that the pressure for 2023, however, remains huge and requiré appropriate response solutions.