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Vietnam allocates millions of dollars to development plans

Vietnam allocates millions of dollars to development plans

Hanoi, Oct 2 (Prensa Latina) The Vietnamese government allocated more than 6.1 billion dollars from the state budget to the Socioeconomic Recovery and Development Program, whose implementation was directed by Prime Minister Pham Minh Chinh, it was learned here.

The head of government demanded the ministries of Health, Agriculture and Rural Development, Labor, War Invalids and Social Affairs, and Transport to urge the localities to manage the use of the program’s capital in accordance with regulations.

Meanwhile, the Ministry of Planning and Investment should coordinate with the Ministry of Finance to continue reviewing projects that have completed investment procedures and are eligible for the remaining capital allocation of the plan, Minh Chinh guided.

The Socioeconomic Recovery and Development Program 2022-2023 envisages a range of fiscal policies, from short-term measures such as temporary tax cuts, interest rate subsidies and liquidity support for businesses and households, to long-term policies such as spending on health, education and digital infrastructure.

This is, the source assessed, an appropriate stimulus package to boost the recovery process after the major economic shock in the second half of 2021, due to the negative impacts of the Covid-19 pandemic.


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