Priority given to economic growth target (27/5)
27/05/2013 - 20 Lượt xem
The domestic economy is facing challenges
A
report of the Deputy Prime Minister Nguyen Xuan Phuc showed that in
2012, inflation continued to be curbed, foreign currency reserves
increased and the foreign exchange rates were relatively stable. In term
of trade activities, exports post a quite high growth and imports of
equipment and materials for production started to rebound. The social
policies were topics of universal interest and were timely implemented.
However,
according to reports from the NA Committee for Economic Affairs,
efforts to implement the policies have not changed the economic outlook
in early 2013 as expected. The overall plan for economic restructuring
was submitted to the NA third session (in May 2012) to gather opinions
but was not approved by the prime minister until February, 2013, which
was slower than the NA Resolution (in 2012).
Source: VEN.
The
NA Committee also reported that in the first quarter of this year, the
gross domestic product grew 4.89 percent, higher than the same period
last year but remained much lower than the first quarter of 2011. The
growth rate of industrial production only reached 4.93 percent and that
of agro-forestry and fishery only reached 2.24 percent which was the
lowest compared to the same period of 2010, 2011 and 2012. Exports of
some key products such as coffee, rubber and seafood in the first four
months of 2013 also fell year on year.
The
total investment capital of the society in the first quarter of this
year was tantamount to 29.6 percent of GDP, lower than the same period
of last year (36.2 percent). During this period, the average Consumer
Price Index increased by 6.91 percent compared with that of the
corresponding period last year. Together with the low Foreign Direct
Investment and credit growth, the resources for economic growth in 2013
is expected to face much difficulties when the investment activities
have not shown improvements.
Priority should be given to economic growth target
The
NA Committee for Economic Affairs described the tasks for the remaining
months of this year as tough, especially ensuring economic growth and
curbing inflation.
The
Vietnam’s export revenue in 2013 is forecast unlikely to make strong
breakthroughs. Therefore, Vietnam needs to adopt policies (fiscal and
monetary policies) and other solutions to support production and remove
difficulties for enterprises. Flexible adoptions of these policies
should depend on developments of enterprises but they need to be
appropriate and consistent with the target of macroeconomic stability.
Due
to declining inflation and as this year’s inflation target is lower
than 2012 and within reach, the NA Committee for Economic Affairs
reported that in the remaining months of this year, macroeconomic
policies should prioritize economic growth target, striving to reach a
growth rate of about 5.5 percent as it was set in the NA’s Resolution./.
Source: VEN.
