Vietnam Economic besides this period has the characteristics to decide on not implementing the second stimulus package: The budget is the budget of our country "permanent deficits". For a decade, the state budget deficit often around 5% of GDP / year. Plus low investment efficiency. The continued implementation of the second stimulus package means that will increase the budget deficit for next year, surpassing the "permanent" capital. But this year's budget deficit of 6.5% of GDP estimate is significantly lower than the National Assembly to 8% of GDP, because of stimulus money pumped civet not many, but not so the budget question 2010 allowed spending to stimulate demand "compensation" easily.
Even at this time, although the level of inflation is maintained at a low level but inflation expectations are still strong pressure on interest rates and billions the exchange plus trade deficit is still high ... This is the factor causing instability. Thus, a balance between short-term benefits and long-term due to the continued deployment second stimulus package is needed. Vietnam's economy with 95% of small and medium enterprises, 70% of employment in rural areas, large state-owned enterprises basically unharmed so far self-certify that it has enough capacity rise soon even if the government does not continue stimulus spending.
Meanwhile, if further stimulus is not only a result the budget deficit increased, the currency balance under great pressure, but no less serious is the damage to manufacture, promote recovery trend business environment inequality, long-term harm to the business. In addition, the stimulus is always providing capital with easy conditions, in favor of the borrower, the direct damage to the budget, particularly damaging to market principles of resource allocation mechanisms, distorted business environment.
so should the 2nd stimulus package the government is not done.
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