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PM Nguyễn Tấn Dũng: Continue to curb inflation, stabilize the macro-economy, ensure social security and maintain sustainable growth - Photo: VNGOP
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The Cabinet members focused on discussing socio-economic situations of May and the first five months, the macro-economic management; administrative reforms, anti-corruption fight; impacts of international economic integration on the national economy after one year joining the World Trade Organization (WTO); the Government’s action plan; and the Bill for Administrative Procedures.
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The Gov’t May regular meeting focuses on socio-economic situations and some draft legal documents - Photo: VNGOP
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PM Nguyễn Tấn Dũng pointed out that, besides achievements, the country is facing four big challenges:
First, consumption price continued to rise up, especially food price went up by 22.19%, making the CPI rocket again to 3.91% in May and 19.09% in the first five months over the same period.
Second, high price increase caused a lot of difficulties for people's livelihood.
Third, the trade gap remained so high, threatening the macro-economic stability. The excess of import over export reached US $14.4 billion in the first five months, a higher figure than that of the whole 2007, and tends to go up.
Fourth, the disbursement of the budget- or Governmental bond-used projects was far behind the schedule.
Concluding the meeting, the PM asked the Cabinet members, ministries and localities to try their best to have a serious look at and deal with shortcomings and inadequacies right in June and the following months to curb inflation and maintain growth. He showed his confidence that the 2008 growth rate will reach about 7% if the set solutions are seriously implemented.
PM Dũng urged to narrow the trade gap from now till the end of the year, mainly through boosting export, reducing the import of unnecessary goods, raising import tax on luxury consumer goods like automobiles and expensive mobile-phones.
Another key task is to take care of the poor and ensure social security, especially early assisting the most difficult 58 districts nationwide to jump out of poverty.
The PM asked ministries and localities to speed up disbursement for key projects, administrative reforms, anti-corruption, thrift practice, as well as quickly put the NA Resolution on the expansion of Hà Nội's administrative boundaries into reality.
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Economic realities in May and the first five months of 2008
- Industrial value of the first five months increased 16.4% over the same period last year
- Spring-winter rice crop rose up both in productivity (3.7%) and yield (5.8%)
- Cow and poultry herbs increased 3% and 6% respectively
- Aquatic output in May went up 8.1% over the same period
- Foreign direct investment: total number of projects licensed in the first five months reached 324, with the total registered capital of US $14.7, up 160% compared to the first five months of 2007
- Total export turnover in the first five months is estimated at US $23.4, up 27.2%, the highest in recent years
- Import value in May reduced US $200 million in comparison with April
- Total retail of goods and services increased 29.7% in the first five months compared to the same period.
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By Phùng Lợi
