Aggregate Fiscal Impact of COVID-19
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World Bank, Washington, DC
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This note analyzes the short-term
effects of the COVID-19 (coronavirus) shock during the first
year of the crisis and presents alternative medium-term
recovery scenarios. It asks a set of questions, and in
answering those questions, provides policy suggestions for
the Vietnamese authorities'consideration. These
questions are: (i) How were tax revenues affected by the
shock, and how, in turn, did they affect the fiscal space
available to the authorities What tax measures did the
authorities implement to mitigate the shock and how
successful were they What are the implications for any
future tax policy and tax administration reforms (ii) How
did the COVID-19 shock affect expenditures What fiscal
measures did the authorities implement to mitigate the
shocks, and how successful were they (iii) How did the shock
affect fiscal balances and public debt (iv) What are the
growth and fiscal prospects in the medium term
Palabras clave
CORONAVIRUS, COVID-19, PANDEMIC IMPACT, ECONOMIC SHOCK, FISCAL TRENDS, REVENUES, PUBLIC EXPENDITURE, PUBLIC DEBT, ECONOMIC OUTLOOK, PUBLIC INVESTMENT