Illustrative photo (Source: VNA) They said costassistance to affected firms should come next, while incompatible supportpolicies should be redesigned.
Accordingto the experts, it is cautious to take a loosening monetary policy in terms ofscale and duration, especially when economic activities are bustling again,while the fiscal policy should be efficient and support those in need.
Theyrecommended Vietnam to persevere with its long-term reforms to improve the foundationof its macro-economy, in addition to the current short-term policies tomitigate COVID-19 impacts.
JacquesMorisset, World Bank Lead Economist and Program Leader for Vietnam, said thecountry has so far placed the COVID-19 pandemic under control and turned itinto opportunities.
Thecountry has increased its presence in the global trade, pushed for fasterdigital transformation, and better pursued green technologies, among others.
However,he noted the pandemic has caused new risks of damage for the nation.
AssociateProf. Dr. To Trung Thanh, from the Vietnam Economics University (NEU), saidalthough the Government has promptly issued policies in launching its firstsupport package to rescue some economic sectors and those most severelyaffected, recent complicated developments of the pandemic will have acomprehensive and severe impact on the economy.
Itrequires the Government to consider a new package with a larger scale andbroader coverage this year and even beyond to sustain economic development andprepare for the recovery phase, he added.
Theworkshop was co-organised by the NEU, the National Assembly’s EconomicCommittee, and the Vietnamese-based startup and innovation network V-startup.It offered an overall review of the Vietnamese economy last year, assessed theGovernment’s policies in response to the pandemic, and recommended suitablesolutions for post-pandemic recovery.
On theoccasion, the NEU introduced its publication on the annual economic assessmentfor Vietnam in 2020./.
VNA
