Government forecasts this year’s GDP growth of over 6.7%
Tuesday, October 16,2018AsemconnectVietnam - The Vietnamese government has given a positive economic forecast with possible GDP growth of more than 6.7% along with gradually improved growth model.
The forecast was issued by Minister of Planning and Investment Nguyen Chi Dung at the 28th session of the National Assembly Standing Committee in Hanoi on October 15th whilst he presented a mid-term evaluation report on the implementation of the five-year socio-economic development plan (2016- 2020) the socio-economic performance in 2018 and the socio-economic development plan for next year.
Despite facing some difficulties and challenges, this year’s socio-economic targets are essentially achieved, yielding overall results across a range of fields and ensuring the proper and effective implementation targets for the remaining three years between 2016 and 2020, Dung said.
The report indicates that ensured economic balances have afforded consolidation of macro foundations and resources for future development. The state revenue budget in 2018 is estimated to be at more than VND1.35 quadrillion, up 3% compared to the estimate and 5.5% over the same period last year. The total social investment capital went up by 13.3% to approximately VND1.89 quadrillion, making up 34% of GDP as the target set by the National Assembly. Notably, there has been an increase in private economic sector structure.
In addition to this, wastefulness, denouncements, complaints and the fight against corruption have achieved positive results during the past year as a result of swift and strict handling of violations of law.
Regarding the key targets for 2019, Minister Dung said GDP is set to grow at between 6.6 - 6.8%, total export turnover at between 7 - 8%. The rate of poor households will drop by between 1 - 1.5% (poor districts will reduce by 4% based on 2016-2020 new standards for poverty), and the rate of trained labourers will achieve between 60 - 62%.
The report also forecasts optimistic economic prospects for the 2019- 2020 period while noting the prospect from outside challenges due to limited economic scale, the high level of economic openness, extensive international integration and adverse impacts on the economy.
Source: VOV
UK to recognise Vietnam as market economy
Vietnam steel market update: Prices dip to near three-year low
DAILY: Vietnamese pepper prices remained unchanged on July 24
Reference exchange rate up 19 VND at week’s beginning
DAILY: Vietnamese coffee prices remained unchanged on July 24
Wheat imports increased both in volume and value in first 6 months of 2023
Rubber exports increased by 50.4% in value in June
Steel producers await positive results in H2
Rice sector needs more support to shift from quantity to quality
Vietnamese banks prove attractive to foreign investors
Rice exporters benefit from rising prices
Exports of cement and clinker fall
Reference exchange rate up 3 on July 21
DAILY: Vietnamese coffee prices decreased by 1200 VND on July 21
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...