AsemconnectVietnam - Financial policies, especially fiscal policies, have played an important role in promoting aggregate demand to contribute to promoting economic development. In the current context, when the economy is entering the final year of the 2021-2025 term with many difficulties and challenges, it is necessary to have solutions to promote production and business, supporting economic development.

Driving force for economic growth
In recent times, the world situation has had many instabilities, creating many difficulties and challenges for the sustainable growth of the global economy. Domestically, the economy faces many challenges, consumer demand recovers slowly; production and business in some industries and fields are still facing difficulties; Inflationary pressure increased due to fluctuations in exchange rates, adjustments in electricity prices, wages, etc. Promoting the role of financial policies, the Government and the National Assembly have proactively and flexibly adjusted policies to support the economy, remove difficulties for businesses and people, and promote aggregate demand to restore and develop the socio-economy.
A series of financial policies have been implemented, including: tax exemptions, fees, charges, interest rate reductions, flexible exchange rate management, credit promotion, public investment promotion, etc. In which, fiscal policy plays an important role as a fulcrum for aggregate demand, becoming a driving force for economic growth in general.
In addition to tax and fee policies, in the recent period, as the driving force of the economy, public investment resources have also been promoted; development investment expenditure from the state budget has increased over the years. The public investment disbursement rate has improved, reaching an average of 93.8% of the Prime Minister's plan for the 2021-2023 period.
Implementing a reasonable expansionary fiscal policy in the short term
In addition to the achieved results, in 2025 and the coming years, the world economic situation is forecast to be mixed with difficulties and advantages. Although Vietnam's economic growth in 2024-2025 is forecasted by many international organizations to recover strongly, in order to maintain growth momentum and ensure sustainable development, Vietnam needs to overcome challenges such as declining aggregate demand, improve growth quality and respond to uncertain factors.
In addition, the production and business situation of a number of industries and sectors is still difficult; Production costs are still high. In that context, many opinions say that it is necessary to continue a reasonable, focused, and key expansionary fiscal policy in the short term and implement a sustainable financial policy in the long term, while implementing other policies to maximize the effectiveness of supporting the economy in difficult times.
CK
Source: VITIC/ haiquanonline.com.vn