|
|
|
PM Dũng: The Government will focus on reining in inflation and stabilizing macro-economy - Photo: VGP
|
Thanks to the joint and drastic efforts made by the Government, ministries, local authorities and the whole people in implementing solution packages to curb inflation, stabilize macro-economy, ensure the social security and sustainable growth, the socio-economic panorama in the first half of the year has shown positive signs.
However, the PM pointed out that, there remain some big challenges, such as high inflation (though lower than previous months); instable capital market, interest and exchange rates; high trade deficit; and slowing-down production.
|
|
|
Cabinet members in discussions on the socio-economic situations in the first six months – Photo: VGP
|
Thus, the PM required that all members of the Government, ministries and local authorities should continue focusing on the following major tasks:
1) Consistently pursuing monetary tightening while ensuring the economy's liquidity and providing sufficient capital to enterprises and on-road-to-finish projects. The State Bank of Việt Nam must manage properly interest and exchange rates with a view to curbing inflation, stabilizing macro-economy, ensuring the safety of the banking system. The Ministry of Finance was assigned to closely monitor the securities market.
2) Continuing to rearrange investment projects in the direction of cutting down unnecessary ones to pour capital in effective works. The Government chief also ordered to reduce 25% of the Governmental bond capital.
3) Trying to reach an increase of over 30% in export turnover to narrow trade gap;
4) Applying a flexible price mechanism in line with the market rules and a sound roadmap; tightly managing prices of goods;
5) Keeping as a high growth rate as possible in 2008; offering favorable conditions for enterprises to do business; ensuring liquid capital for production and effective projects;
6) Ensuring the social security; being well-prepared to deal with natural disasters; promulgating new poverty standards.
The PM noted that ministries, sectors and local authorities must provide official information to mass media which will accurately disseminate it to people, so as to reach high consensus in advancing to the economic stability.
|
Winter-spring rice yield reaches 18 million tons, up 1 million tons compared with the same crop last year
|
June 2008:
▼ CPI increase: 2.14%, the lowest in the first half;
▲ Export turnover: US $6.12 billion, the highest figure in the first half ;
▼ Import turnover: US $6.8 billion, down 11.3% against May ;
▼ Inflation sharply went down to the lowest level in the first six months
|
|
By late June 2008, eight exports earned over US $1 billion each (two new items in the list were computers and rice), including crude oil (US $5.6 billion), garments (US $4 billion), footwear (US $2.3 billion), aqua-products (US $1.9 billion), rice (US $1.5 billion). Some new exports with increasingly high growth rate are plastic products, gemstone, and cashew-nuts.
|
First six months of 2008:
▲ GDP: up 6.5%
▲ Industrial productivity: up 16.5%;
▲ Agro-forestry and fishery productivity: up 4.5%;
▲ Export: up 34.5%, estimated to earn US $30.3 billion;
▲ Total retail of goods and services: up 30%;
▲ State budget collection: VND 195,850 billion, equivalent to 60.6% of the year-plan, up 40.8%;
▲ Social investment in comparison with GDP: up 42%;
▲ FDI: US $31.6 billion, three times higher than the same period last year; disbursement: US $4.9 billion, up 37.6%.
|
By Hải Minh
