Over 2.3 billion USD disbursed under national socio-economic recovery programme

Hanoi (VNA) – More than 55 trillion VND (2.33 billion USD) has been disbursed so far to financially support people and enterprises hurt by the COVID-19 as part of the national socio-economic recovery and development programme, according to a report by the Ministry of Planning and Investment. 

Of the total, over 10.07 trillion VND has been provided in soft loans through the Vietnam Bank for Social Policies. Nearly 4.54 million affected labourers have received over 3.04 trillion VND in housing rental assistance.

Value-added tax (VAT) and environment tax on jet fuel have been lowered, resulting in a total tax reduction of some 34.97 trillion VND as of August 26.

The State Bank of Vietnam has been pursuing flexible fiscal and monetary policies while focusing on addressing legal and institutional issues to accelerate the disbursement of public investment and forge for the effective use of the funding sourced from the programme. 

Minister of Planning and Investment Nguyen Chi Dung said Vietnam’s economy was on recovery track during the first eight months of this year, with the macro-economy kept stable.

However, he voiced concern over the ups and downs of oil prices and production inputs, a slowly-recovering global market and changing policies in other countries that can put a brake on the economic recovery.

An absence of support policies to timely tackle these issues can lead to a domino effect on multiple industries and areas, he said./.