Deputy Prime Minister Le Minh Khai: Studying tax reduction options to support people and businesses

Deputy Prime Minister Le Minh Khai assigned the Ministry of Finance to assume the prime responsibility for, and coordinate with agencies in, to urgently study and report to the Government and competent authorities on plans to adjust and reduce taxes on petrol and oil according to regulations; study plans to reduce other taxes to support people and businesses;…

Deputy Prime Minister Le Minh Khai assigned the Ministry of Finance to assume the prime responsibility for, and coordinate with agencies in, to urgently study and report to the Government and competent authorities on plans to adjust and reduce taxes on petrol and oil according to regulations; study plans to reduce other taxes to support people and businesses.

The risks and challenges are great, but do not let growth opportunities be lost

Experts recommend: Need to pay close attention to the issue of controlling inflation, but also don't be "too afraid of inflation", "shouldn't be too much".

The management of financial and monetary policies should be very cautious, flexible and effective, ensuring room for adjustment with uncertainty, "not all hands"; continue to implement solutions to accelerate disbursement of public investment capital; improve management capacity to proactively respond to unpredictable situations, etc.

Experts emphasized that although there are many difficulties and uncertainties in the immediate future, we still have to think about long-term factors. Vietnam's economic development opportunities are huge. Accordingly, we "must not let this growth opportunity slip away".

Summarizing the comments, Deputy Prime Minister Le Minh Khai stated: In the first 6 months of 2022, the world economy experienced many unpredictable fluctuations and faced many challenges such as record-high inflation. in many countries and is spreading rapidly globally; The US and many countries sharply increased interest rates, the armed conflict in Ukraine lasted, along with the application of increased trade sanctions between the parties, China's zero COVID policy, etc., causing disruptions and interruptions. Supply chains are broken, global production is prolonged, pushing up prices of energy commodities, strategic materials and food.

Domestically, the macro-economy in the first 6 months of 2022 recovered in most industries and fields. Economic growth in 6 months increased by 6.42%, which is quite a growth compared to other countries in the region and the world. The average CPI in 6 months increased by 2.44%, a relatively low increase compared to the same period in previous years. The monetary market is basically stable, interest rates are maintained at a reasonable level, actively supporting credit demand for production and business, creating favorable conditions for the process of promoting economic recovery and development. - society.

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