VIetnam: Covid-19 pandemic weighs heavy on 2021 Budget

A total of VNĐ2.75 quadrillion would be for development investment to aid the post-pandemic economic recovery in the next five-year period. - Vietnam News/Asian News Network

HANOI, Nov 9 (Vietnam News/ANN): The Covid-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.

Dung said that what happened in 2012-13 period showed that in an economic downturn, the domestic budget collection growth rate was equivalent to just half of the GDP’s growth rate. Domestic budget collection was projected to increase by 5.6 per cent over 2020 – a positive growth in the context of uncertainty.