The world oil price is predicted to remain low in the near future, which affects oil exporting nations including Vietnam. Therefore, the Prime Minister recently asked related ministries and agencies to actively cope with any arising difficulties caused by a reduced state budget resulting from the declining oil price.
Solutions include improving manufacturing capability, competitiveness, effective restructuring of the economy, shifting of development models, boosting export values and leveraging imports. These are hoped to help realise the set target for annual economic development of 6.2% or above, stabilising state budget collection, solving debts for infrastructure development and increasing the effectiveness of state budget and spending.
