How to Jump Start Vietnam's Economy?
COVID-19 has caused an unprecedented shock to the global economy. While Vietnam has shown resilience, the pandemic has resulted in a supply shock as regular work and supply chains are disrupted. It has also caused a demand shock as people cut back their consumption of several services and commodities, not only for restaurants and travel, but throughout the economy given their extreme uncertainties about their economic future. So far, the Government has been very effective in containing the pandemic with a limited number of cases and no registered deaths. The Government has also been active in providing immediate support to the most affected people and businesses through the easing of monetary and credit policies as well as the implementation of a series of fiscal measures. Hopefully the economy will withhold and start to rebound gradually. But it won’t be easy to restart a modern interconnected global economy while the world awaits the arrival of a vaccine that has yet to be discovered. Recovery will begin when health officials can assure people that the new coronavirus has been contained and the mainstream availability of test kits, both to identify the infected and people with antibodies.
| Main Authors: | , |
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| Format: | Policy Note biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020-04
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| Subjects: | CORONAVIRUS, COVID-19, PANDEMIC RESPONSE, ECONOMIC RECOVERY, VULNERABLE POPULATION, EMPLOYMENT, FISCAL POLICY, PUBLIC INVESTMENT, HUMAN CAPITAL, LABOR MARKET, OFFICIAL DEVELOPMENT ASSISTANCE, DIGITAL ECONOMY, FINANCIAL INCLUSION, TOURISM, TRANSPORT, |
| Online Access: | http://documents.worldbank.org/curated/en/288141589891626712/How-to-Jump-Start-Vietnams-Economy https://hdl.handle.net/10986/33778 |
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| Summary: | COVID-19 has caused an unprecedented
shock to the global economy. While Vietnam has shown
resilience, the pandemic has resulted in a supply shock as
regular work and supply chains are disrupted. It has also
caused a demand shock as people cut back their consumption
of several services and commodities, not only for
restaurants and travel, but throughout the economy given
their extreme uncertainties about their economic future. So
far, the Government has been very effective in containing
the pandemic with a limited number of cases and no
registered deaths. The Government has also been active in
providing immediate support to the most affected people and
businesses through the easing of monetary and credit
policies as well as the implementation of a series of fiscal
measures. Hopefully the economy will withhold and start to
rebound gradually. But it won’t be easy to restart a modern
interconnected global economy while the world awaits the
arrival of a vaccine that has yet to be discovered. Recovery
will begin when health officials can assure people that the
new coronavirus has been contained and the mainstream
availability of test kits, both to identify the infected and
people with antibodies. |
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