Like other Asian countries with asset bubbles inflated by foreign money, the Vietnamese authorities pushed up interest rates – making it all the harder for it now to change course. The usual caveats apply: the proposed $6bn stimulus package and other spending will stretch over several years and include projects already on the table. Even so, this is a big bite for a country with fiscal revenues worth less than 25 per cent of GDP and budget deficits consistently over 2 per cent of GDP.
和其它外資造就資產泡沫的亞洲國家一樣,越南政府提高了利率——令它現在更加難於改變路線。越南採用了常規的做法:擬議的60億美元刺激方案和其它支出將延續幾年,而且包括已提出的項目。即便如此,對於一個財政收入不足GDP的25%、預算赤字始終高於GDP的2%的國家來說,這也一個很大的負擔了。
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