Countercyclical Support

It will take time to discern the impact of the overall stimulus package. Recent fiscal data from the United States have corrected initial assessments of the depth of the economic and financial crisis and, with it, the impact of the stimulus package implemented. Similar trends could be at play not just in Viet Nam, but in other Asian economies that implemented stimulus programs. In that light, perhaps, program evaluation will be more adequately served with an assessment 3-4 years after loan disbursement.