Division Chief of the IMF’s Fiscal Affairs Department, Paulo Medas led an IMF team to Vietnam from June 14-29 to hold discussions for the 2023 Article IV consultation with the country.
In an interview granted to the Vietnam News Agency, he said the world economy will continue facing difficulties in 2024 and can only recover in 2025. However, thanks to a rebound in exports and expansionary domestic policies, the recovery can be seen in Vietnam sooner, he noted.
According to the IFM official, the recent measures taken by the central bank and the government of Vietnam, such as interest rate cuts, tax reduction, and public investment and spending expansion, have helped soften the impact of external and domestic headwinds.
To help Vietnam achieve its future macro-economic management goals, the IMF expert stressed that, the government needs to maintain its reform efforts in the medium term to achieve the set medium and long term goals and become a developed economy by 2045 and to ensure total greenhouse gas emissions will be reduced to zero by 2025./.
