The Lao Government has estimated that the budget deficit will rise from 6.69 trillion kip (700 million USD) , equal to 3.7 percent of the country’s gross domestic product (GDP), to 10.3 trillion kip (1.1 billion USD), or 5.7 percent of the GDP. … [Read more...] about Laos faces serious budget deficit
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Vietnam and Israel have carried out various cooperation activities in healthcare over the years, especially training courses in first aid for cardiovascular emergencies arranged in eight Vietnamese provinces with the participation of Israeli experts in late 2019. … [Read more...] about Vietnam presents 100,000 face masks to Israel
To ensure the effective enforcement of these legal documents, VBSP has presented professional guidance helping business leaders carry out suspension payments for their employees during the pandemic. To bolster the efficiency of these supporting policies, Thanh asked the VBSP to keep communicating about the state support policies to management agencies from the central to local levels, keeping them and businesses well-informed about these support measures. Simultaneously, Thanh asked the Vietnam Fatherland Front Central Committee, the Vietnam General Confederation of Labour, and diverse social and political organisations to effectively handle communication and supervisory activities to ensure that the right people benefit from the policies, avoiding negative phenomena and ensuring publicity and transparency during implementation. … [Read more...] about VBSP: a helping hand to employees in COVID-19 times
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?
However, acting Health Minister Nguyen Thanh Long warned that the risk of pandemic entering the country remains high, especially when more flights are bringing Vietnamese citizens and foreign experts home, including international commercial flights. In addition, the weather in winter and spring is favourable for infectious diseases to spread. It is worrying that recent inspections of the Health Ministry revealed that some localities and units are not following regulations and guidance in epidemic prevention. The monitoring of people quarantined at home is not strict enough. … [Read more...] about Citizens’ laxation poses big risk to pandemic prevention work