Economic forum to help Gov’t develop recovery measures

Hanoi (VNA) – The Vietnam Economic Forum 2021 is scheduled to take place on December 5 to help the Government design a package of fiscal and monetary solutions to shore up the economy.

Chairman of the National Assembly (NA) Vuong Dinh Hue presided over a meeting in Hanoi on November 30 with standing members of the NA’s Committee for Economic Affairs and a group of experts and researchers on financial and monetary policies assisting the implementation of the socio-economic recovery and development programme.

He said the forum will be organised by the NA’s Committee for Economic Affairs, the Party Central Committee’s Economic Commission, and the Vietnam Academy of Social Sciences.

The event will take place both in person and via videoconference and gather domestic and foreign scholars, experts, and researchers. It aims to help clarify scientific and practical grounds to help the Government design a package of fiscal and monetary solutions.

Hue said it is necessary to have in-depth assessment since the global economy has changed constantly amid the COVID-19 pandemic’s impacts; as well as to identify the extent of damage and recovery capacity of the economy, determine sectors needing more support to recover and develop, and find out potential areas for accelerating recovery to fuel growth of the economy.

Short-term solutions also need to take into account long-term issues, macro-economic stability, and sustainable development, the Chairman said, adding that the policies helping with economic recovery in the short term should not cause macro-economic instability in the long term, according to the top legislator.

The Government has built a plan to develop fiscal and monetary mechanisms and policies for assisting the implementation of the general socio-economic recovery and development programme./.