Vietnam is set to rebound powerfully despite the unpredictable developments of COVID-19, lawmakers said on Tuesday. 

They sited macroeconomic stability and the rapid recovery of major export markets such as the US and Europe.

During the year-end meeting, National Assembly deputies said that major economic balances have been secured while Vietnam has also signed a number of free trade agreements, 14 of which have come into effect already. Inflation has been at its lowest and the banking sector’s resilience has improved, they said.

Finance Minister Ho Duc Phoc said although there is not much room left for public debt, the ministry still backs stimulus packages.

“We suggest that the Government reduce interest to an amount worth nearly 900 million USD per year. The move will help generate more jobs and increase productivity and state revenue,” said Mr. Phoc.

Source: VOV5