Vietnam to disburse $30 billion of public investment funds this year to tackle virus impact

[Viet]

FILE PHOTO: A man has his temperature check at a supermarket entrance, during the outbreak of the coronavirus disease (COVID-19), in Ho Chi Minh, Vietnam, April 4, 2020. Picture taken April 4, 2020.


REUTERS/YEN DUONG

(Reuters) - Vietnam will aim to disburse $30 billion in public investment funds this year, up 67% year-on-year, the government said on Friday, as it seeks to boost an economy hit hard by the coronavirus outbreak that has infected 255 people nationally.

Public investment, excluding investment made by state-owned enterprises, often accounts for around one-fifth of Vietnam's total investment and is spent on infrastructure and social development projects.

The Southeast Asian country's gross domestic product in the first quarter of this year grew at its slowest pace in 10 years, at 3.8% due to the pandemic.

 

[flowerfan2020]

https://tradingeconomics.com/vietnam/gdp
Good luck Vietnam. Your GDP in 2019 only 255 Billion but has to spend 10% of your GDP to fight the virus. Now your economic is almost in halt mode, people will be in hungry and angry.

 

[Viet]

https://tradingeconomics.com/vietnam/gdp
Good luck Vietnam. Your GDP in 2019 only 255 Billion but has to spend 10% of your GDP to fight the virus. Now your economic is almost in halt mode, people will be in hungry and angry.

the total figure is $150b because public investment only counts 1/5 of the total investment.