State Treasury will have to take on challenging tasks next year as public spending is expected to rise, according to Deputy Minister of Finance Vo Thanh Hung.
The COVID-19 health crisis and the resulting economic downturn has thrown a spanner in the works of already tardy public spending, hindering Viet Nam’s efforts to revive its post-pandemic economy and speed up slowing GDP growth.
As stated in Resolution 84/NQ-CP, the Government has instructed corresponding administrative authorities to aim for a 0.5 per cent decrease in lending interest rates from now until the end of 2017, while keeping taxes, fees and other charges unchanged.