Apr. 24 – A senior Finance Ministry official said that Vietnam will have to dip into national emergency funds to help pay for the country’s recent US$8 billion stimulus package.
Speaking at the Asia Society’s Asian Corporate Conference event in Ho Chi Minh City yesterday, Vietnam’s Vice Minister of Finance Do Hoang Anh Tuan said that these measures should not jeopardize Vietnam’s forecasted economic growth.
Mr. Tuan listed more assertive collection of backlogged corporate taxes by the government and the fact that the country currently has a small budget deficit as reasons to feel confident in the country’s macroeconomic stability.
Vietnam has weathered the world financial crisis fairly well so far in comparison to some other Southeast Asian countries despite the drop in demand of some of its key exports like furniture, garments, and seafood.
