The Government has decided to continue with its stimulus plan in 2010, but with some policy adjustments, particularly for beneficiaries of the stimulus package.
Speaking at the cabinet October meeting on October 30, Prime Minister Nguyen Tan Dung said the stimulus plan’s key objective was to ensure steady recovery of the economy and social security.
Under the plan, the Government will continue with the interest rate support for medium- and long-term credit schemes investing in production development, particularly in agriculture, intensive labor industries or export-oriented businesses through 2010.
However, the support rate could be cut by as much as 2 per cent, the Government leader said, confirming that budget allocated for development would remain steady as development investment has played an important role in the country, especially in job creation and infrastructure improvement.
To reduce overspending in 2010, the Government would try to increase state revenues while cutting less important spendings, especially on meetings, receptions, petrol and cars, the Prime Minister said.-