World

Adaptive fiscal, monetary policies crucial for economic recovery: ASEAN officials

ASEAN finance ministers and central bank governors gathered at their 8th meeting (AFMGM) via videoconference on April 8.
Adaptive fiscal, monetary policies crucial for economic recovery: ASEAN officials ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – ASEANfinance ministers and central bank governor gathered at their 8th meeting(AFMGM) via videoconference on April 8.

On the fringe of this event,the officials had a dialogue with leaders of international financialorganisations, namely the International Monetary Fund (IMF), the World Bank (WB),the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB),and the ASEAN 3 Macroeconomic Research Office (AMRO).

Addressing the meeting,Minister of Finance Ho Duc Phoc shared the Vietnamese Government’s experiencein implementing the socio-economic recovery and development programme, reducingthe environmental protection tax on fuels, and accelerating the COVID-19vaccination campaign so as to create a basis for restoring economic activities.

International organisations's representatives presented their assessments of the global and ASEAN macro-economic situation,including policy challenges amid lingering impacts of the COVID-19 pandemic,especially infection waves caused by the Omicron variant, and politicaluncertainties in Europe.

Adaptive fiscal, monetary policies crucial for economic recovery: ASEAN officials ảnh 2Officials attend the 8th ASEAN Finance Ministers' and Central Bank Governors' Meeting on April 8. (Photo: VNA)
Participants highlighted abright outlook for regional recovery, with growth expected to reach 5.2 percentthis year from 4 percent in 2021.

The ministers, governors, andleaders of international organisations held that vaccination remains the top prioritywhile adaptive fiscal and monetary policies are still crucial for economicrecovery.

The same day, the 26th ASEAN Finance Ministers’ Meeting took place to update the progress of theimplementation of financial cooperation activities within the framework ofASEAN committees.

The finance ministers andcentral bank governors are set to hold a dialogue with ASEAN businesscommunities and adopt the 8th AFMGM’s joint statement later on April8./.
VNA
#ASEAN #finance ministers #central bank governors #Ho Duc Phoc #economic recovery #AFMGM #COVID-19 #Omicron #fiscal and monetary policies #updated Vietnam news #Vietnamplus #Vietnam News Agency ASEAN
Follow VietnamPlus

Related News

Vietnam attends ADSOM WG, ADSOM-Plus WG meetings

Vietnam attends ADSOM WG, ADSOM-Plus WG meetings

A delegation of the Ministry of National Defence attended the virtual conferences of the ASEAN Defence Senior Officials’ Meeting Working Group (ADSOM WG) and the ADSOM-Plus WG on March 28 and 29.
ASEAN, UK unveil infrastructure capacity building programme

ASEAN, UK unveil infrastructure capacity building programme

The ASEAN Secretariat, the United Kingdom (UK) and the Lead Implementing Body for Sustainable Infrastructure (LIB-SI) have co-organised the UK-ASEAN Sustainable Leadership in Infrastructure Conference online and in-person in Singapore.

See more

Malaysian Prime Minister Anwar Ibrahim (sixth from left) poses for a photo with foreign ministers of ASEAN countries, Timor Leste and ASEAN Secretary-General Dr. Kao Kim Hourn at the opening ceremony of the AMM-58 on July 9. (Photo: VNA)

AMM-58, related meetings open in Kuala Lumpur

AMM-58 is the largest gathering of ASEAN foreign ministers and senior diplomats from around the world to discuss pressing global and regional issues, promote cooperation, and advance the security and sustainability agenda in ASEAN.

(Photo: nationthailand.com)

Thailand hopes to conclude US trade talks before new deadline

The Southeast Asian country has offered to cut import duties on most US goods to zero, expand access for US agricultural and industrial products, and increase purchases of energy and Boeing jets. It also pledged to reduce its 46 billion USD trade surplus with the US by 70% within five years.

A resident buys vegetables at a Bangkok supermarket. (Photo: bangkokpost.com)

Thailand’s CPI falls for 3rd straight month in June

Thailand’s consumer price index (CPI) declined for a third consecutive month in June, attributed to lower energy and food prices, though there are no signs of deflation, according to the country’s Commerce Ministry.

Jirayu Huangsap, Spokesperson for the Prime Minister’s Office (Photo: The nation)

Thai cabinet approves withdrawal of entertainment complex bill

The bill, which had previously been proposed by the Ministry of Finance, outlined mechanisms for regulating entertainment businesses through a two-level committee system: the Comprehensive Entertainment Policy Committee and the Entertainment Business Control Board. The goal is to establish standards and regulatory measures for the industry.

Illustrative image (Photo: https://global.chinadaily.com.cn/)

Southeast Asia seeks additional tariff negotiations with US

The US decided to keep unchanged tariff rates on certain countries in Southeast Asia, such as 32% for Indonesia and 36% for Thailand, effective from August 1. Malaysia faces a 25% rate, up from the 24% that the US threatened in April.

A screenshot of the article.

Mexican media praises Vietnam’s development achievements

Since initiating the Doi Moi (Renewal) reforms in 1986, Vietnam has maintained strong momentum. In 2024, the country posted a GDP growth rate of 7.09%, placing it among the fastest-growing economies globally. Forecasts suggest it could join the world’s top 20 economies by 2029.

Newly installed Labour Minister Pongkawin Jungrungruangkit on his first day at the ministry. (Photo: Bangkok Post)

Thailand prioritises AI training, job creation

The new Thai Labour Minister's five policies include equipping Thai workers with AI skills by focusing on developing AI curricula aligned with the manufacturing and service sectors and providing all worker groups with skill training through cross-sector collaborations.

Electric vehicles inside BYD's factory in Rayong, Thailand. (Photo: Reuters/VNA)

Thailand’s electric vehicle market heats up

Hyper-competition in China's electric vehicle sector is spilling over to its biggest market in Asia, Thailand, as smaller players struggle to compete with dominant BYD, putting ambitious local production plans at risk.

Laos steps up biodiversity conservation efforts

Laos steps up biodiversity conservation efforts

Laos is home to over 500 fish species, which play a vital role in maintaining the country's ecological balance and represent an important part of its natural heritage. Each year, nationwide activities are held to raise public awareness, especially among young people, about the importance of conserving aquatic life and protecting ecosystems.

This photo provided by the Geological Agency of Indonesia's Energy and Mineral Resources Ministry shows volcanic materials spewing from Mount Lewotobi Laki-Laki at East Flores regency in East Nusa Tenggara, Indonesia, on July 7. (Photo: Xinhua/VNA)

Indonesia: Flights to Bali cancelled amid volcanic eruption

Mount Lewotobi, standing at 1,584 metres, last erupted in November 2024, claiming nine lives and displacing thousands. It is one of Indonesia’s 127 active volcanoes, as the country lies on the Pacific “Ring of Fire,” a region known for intense tectonic and volcanic activity.