Compiled by Thu HàHÀ NỘI — As the room for the fiscal policy remains quite large, Việt Nam in 2024 should continue to pursue the counter-cyclical fiscal policy, with a focus on increasing spending and maximising tax and fee exemption and reduction, to support economic growth, experts believe. According to experts, in 2023, although there were still many difficulties in promoting economic growth, the positive effects of fiscal and monetary policies were shown. Meanwhile, the fiscal policy, including supporting packages for reducing and exempting taxes and fees of several goods and services, were quite effective, contributing to supporting the business community to overcome difficulties, recover and develop production and business. As the domestic economy in 2024 will still face many difficulties due to the impact of global headwinds while room for the domestic monetary policy remains quite limited, experts suggest that it is necessary to rely more on fiscal policy to help the country achieve the growth target of 6-6.5 per cent. In 2024, the fiscal supporting policy should continue to be implemented in the direction of increasing public investment spending; maximising tax and fee reduction and exemption; and strengthening administrative and investment procedure reforms to stimulate aggregate demand.
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