Deputy PM: Vietnam Govt to Curb State Budget Deficit at 7 per cent This Year

First Deputy Prime Minister Nguyen Sinh Hung told lawmakers on June 13 that the government will try to curb state budget deficit at 7 per cent of the country’s GDP so as to tame inflation and maintain the set GDP growth of 5 per cent this year.

 

“Maintaining the national growth product (GDP) of 5 per cent this year is reasonable,” Deputy PM Hung noted in a statement.

 

Deputy PM Hung also detailed the government’s stimulus packages worth VND145 trillion, or 9 per cent of the country’s GDP, which consist of taxes breaks and defers worth of VND28 trillion, subsidized loans package valued at VND17 trillion, government investments worth VND90 trillion and social security package valued at approx VND10 trillion, all the packages are being implemented already.

 

“All the packages are sourced from the state coffers, no need to issue more,” Hung assured. (Deputy PM Hung’s statement)