Given the little room left for monetary policy to add stimulus to the economy, fiscal policy would be the engine of growth next year, according to Ho Sy Hung, vice chairman of the Commission for the Management of State Capital at Enterprises.

About VND9 trillion (US$382 million) of public investment capital from foreign sources has been disbursed in the first 11 months this year, accounting for only 26% of the allocated capital.

VOV.VN - Ho Chi Minh City, the most populous and larget economic centre in Vietnam, aims to achieve Gross Regional Domestic Product (GRDP) growth of 7.5 – 8% in 2023 – a target which is equivalent to the figure recorded in previous years but lower than 2022’s gains.

Prime Minister Pham Minh Chinh has issued a decision earmarking over VND147 trillion (US$6.39 billion) from the State budget for ministries, agencies and localities to carry out the socio-economic recovery and development programme.

VOV.VN - It remains imperative to roll out drastic measures aimed at fast-tracking the disbursement of public investment capital and the realisation of the socio-economic recovery and development programme, as well as three national target programmes.

A total of VND285.4 trillion (US$12.18 billion) sourced from the State budget was disbursed in the first eight months of 2022, equal to 51% of the yearly plan and up 16.9% year-on-year.

VOV.VN - The National Assembly Standing Committee is scheduled to examine issues related to socio-economic recovery and development projects at an extraordinary session to be held on August 29 afternoon.

VOV.VN - The initial six months of the year saw public investment disbursement only met 27.86% of the annual plan, a figure even lower than the 29.02% recorded in the same period last year, according to the Ministry of Planning and Investment (MPI).

Ho Chi Minh City’s economy has seen a steady revival and is on course to return to pre-COVID levels, Chairman of the municipal People’s Committee Phan Van Mai said on June 29.

Vietnam’s effective management of COVID-19 has boosted confidence and facilitated the easing of restrictions and economic recovery, according to an article published by the Australia – Vietnam Policy Institute (AVPI).