Participants at the “Financial policies to overcomes challenges toward sustainable development” forum (photo: VOV)

Cao Anh Tuan, Deputy Finance Minister, said that Vietnam’s inflation is under control at 3 ‑ 3.8% this year. But Vietnam is forecast to face risks and challenges caused by the continued decline in global economic growth, by high inflation, and by a tightening monetary policy, high public debt, and lower fiscal support for the economy.

Deputy Minister Cao Anh Tuan said: “Some internal challenges will also put pressure on the recovery process and domestic economic growth. In the context of the global green and sustainable economic development trend, the circular and digital economies, climate change response, and the tasks to implement the Party Central Committee’s resolutions on promoting industrialization and modernization, and innovating growth models, policies should be adjusted appropriately to mobilize and allocate resources for sustainable economic and social development.”

The event was held by the Ministry of Finance, the German Development Cooperation Organization (GIZ), and the European Union and Germany’s Ministry of Economic Cooperation and Development.