Gov’t introduces eight socio-economic development measures in H2Monday, August 1,2016
AsemconnectVietnam - PM Nguyen Xuan Phuc presented a string of eight measures to realize the socio-economic development goals and state budget in the rest of the year.
On behalf of the Government, PM Phuc delivered a report on the implementation of socio-economic development plan and state budget in the first half and solutions in the second half at the first session of the 14th National Assembly on July 29 in Ha Noi.
The macro-economy was stable. Inflation rate surged 2.35%. Credit growth touched 8.16%. Foreign exchange rate was kept stable and foreign reserve reached a record high. Trade surplus valued US$ 1.54 billion. State budget collection grew 6.1%. Total social investment went up 11.7%. Total registered capital was US$ 11.3 billion and FDI disbursement picked up 15.1%. GDP growth rate expanded 5.52% against the same period last year.
However, the country encountered with a series of challenges including high public debts (accounting for 62.2% of GDP), soaring Government debt level at 50.3% (exceeding the safe level of 50%); weak management of public investment; slow economic growth rate (only 5.52% in comparison with 6.32% in the same period last year); as well as declining agricultural production.
Eight top tasks
PM Phuc pointed out eight key tasks in the rest of the year namely (1) macro-economic stability in favor of sustainable growth; (2) promoting strategic sectors in combination with economic restructuring; (3) removing barriers; developing enterprises; nurturing the business start-up environment and renovation; (4) building an administrative system upholding discipline, rules and integrity; (5) unceasingly improving people’s physical and mental lives; (6) actively responding to climate change; preventing natural disasters; protecting the environment; strengthening water management; (7) safeguarding the nation’s independence and sovereignty; ensuring political security, social order and safety; and (8) bettering foreign diplomacy and international integration./.
By Kim Loan
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