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Positive economic signals in six months (02/7)
02/07/2013 - 16 Lượt xem
Participants reviewed the
socio-economic situation in June and the first half of this year, the
implementation of Government resolutions, inspection, and
anti-corruption work, administration reform, and other issues related to
the restructuring of the Vietnam Shipbuilding Industry Group
(Vinashin), Vietnam Airlines’ projects to purchase airplanes and revised
Customs Law.
GDP up 5% in Q2
Minister of Planning and Investment Bui Quang Vinh said the macro-economy has grown significantly.
Many economic sectors have
contributed to raising the country’s GDP level to 5% in the second
quarter of this year, (higher than the first quarter) and to 4.9% in the
first half of this year.
Industrial production,
especially in the processing and manufacturing sectors is now back on
track, while the services sector shows some significant growth.
Export earnings are higher than the set targets but import surplus is lower.
Minister Vinh spoke of
coordinated efforts by ministries and departments to strictly implement
policies and measures proposed by the Prime Minister to control market
prices, keep a balance between supply and demand, and prevent illegal
trade in fake and counterfeit products.
In the second half of this year,
it requires greater efforts to strictly control the prices of
electricity, petroleum, and fertilisers and other essential commodity
goods.
Credit growth
According to the Ministry of
Planning and Investment, the State Bank of Vietnam’s decision to cut
deposit and loan rates in the first half of this year has helped iron
out snags in business operation.
The amount of deposits and loans
is increasing to ensure bank liquidity. Credit growth declined in
January but began to go up as of February.
The Vietnam Asset Management
Company (VAMC) will be put into operation in the near future to help
deal with bad debts and accelerate the flow of capital in the remaining
months of this year.
Exchange rates tend to increase
slightly and the foreign exchange market is rather stable. The SBV is
now capable of buying large amounts of foreign currencies for
reservation.
However, Minister Vinh said
there remain difficulties and challenges to overcome as macroeconomic
growth is not really stable. Although inflation is under control there
is some risk that it can rear its ugly head time and again. Even
enjoying lower interest rates, not all businesses can access capital
easily.
In addition, the State budget
collection is still lower than the previous years’ level. The people’s
living conditions, especially in remote, mountain and other
disadvantaged areas are not much improved as expected./.
Source: CPV
Source: CPV
