Vietnam Plans New Measures to Further Boost Economy: SBV Official
The government of Vietnam is mulling new measures to cushion any shocks for the domestic economy right after its demand-stimulus package worth US$1 billion ends at the end of 2009, a senior official of the State Bank of Vietnam, the country’s central bank.
Nguyen Ngoc Bao head of the central bank’s department for monetary policies told a press briefing held on September 1 that Prime Minister Nguyen Tan Dung has requested the Ministries of Planning and Investment, Finance and the SBV to work on the measures.
Governor Nguyen Van Giau of the SBV said the central bank will adopt a flexible but cautious monetary policy, agreeing to raise money supply by 30% for this year and reduce it in following years.
By August 31, banks and financial companies had made government-subsidized interest loans of VND413.943 trillion for the domestic economy, Bao noted. (Banking Times, Vnexpress)
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