To cope with Covid-19, many governments around the world have had to accept economic sacrifices, with a rise in the public debt-to-GDP ratio and budget deficits. The budgets of quite a few governments have fallen into a situation of more spending and less revenue: spending on the health system, cash and credit supports for workers and the business community, plus reductions and deferment of payments of various taxes. In some states with a decent social security system like in Europe, the ratio of public debt to GDP is up to 80-110%, while budget deficits reach 8-9% of GDP. … [Read more...] about Demand stimulus: where to begin?
Climate resilient strategies
According to Minister of Culture, Sports and Tourism Nguyen Ngoc Thien, since the beginning of the year, the novel coronavirus (COVID-19) pandemic has directly affected the Vietnamese tourism industry, along with the global tourism sector. The industry has therefore suffered significant losses which has led to a decline in related fields. Furthermore, tourism growth has had a positive impact on many sectors and various aspects of social life, thereby creating plenty of jobs and serving as a means of improving income, and ensuring social security for citizens. This therefore serves to contribute to promoting friendship ties, preserving cultural values, boosting environmental protection, and aiding economic restructuring. Despite these benefits, tourism also represents an industry that is vulnerable to the various impacts and damages caused by natural disasters and epidemics, the Minister said. This year’s conference is being held for the purpose of assessing the current climate … [Read more...] about National Tourism Conference seeks solutions to save tourism industry