PM orders ensuring macro-economic stability, controlling inflation

Prime Minister Pham Minh Chinh speaks at the event (Photo: VNA)

Vietnam’s economic growth this year is projected at nearly 8%, up 1.5-2% from the initial target, said Prime Minister Pham Minh Chinh while delivering the 2022 socio-economic performance report and 2023 socio-economic development plan at the 14th National Assembly’s fourth session in Hanoi on October 20.

The Government leader said important results were achieved in socio-economic development in the first nine months of this year, with 14 out of the 15 targets being met.

The consumer price index increased by 1.73% in the period under review, and is expected to hike by nearly 4% for the whole of this year. Growth in agriculture reached 2.99%, industry and construction 9.44%, and services 10.57%. Export-import value surpassed 558 billion USD, up 15% and trade surplus hit 6.76 billion USD.

Attention was paid to the fight against the COVID-19 pandemic, natural disasters, corruption and negative phenomena, contributing to strengthening public trust. About 87 trillion VND (3.78 billion USD) in aid has been given to about 56 million people, workers and over 730,000 employers hit by COVID-19.

Delegates at the event (Photo: VNA)

For the time between now and the year’s end, the PM ordered efforts to ensure macro-economic stability, control inflation and supply-demand, especially key necessities for the Lunar New Year holiday.

Efforts must also be exerted to controll interest rates proactively and flexibly, and to hasten the disbursement of public investment capital and the progress of the socio-economic recovery and development programme along with three national target programmes.

Next year, there are 15 key socio-economic and environment targets, including GDP growth of around 6.5%, CPI of some 4.5%, social productivity of 5-6%, the rate of unemployment below 4%, and a 1-1.5% decrease in multidimensional poverty reduction.

To such end, the Government will improve business environment, ensure major balances of the economy, enhance the efficiency of economic restructuring in tandem with renewing the growth model, improving the quality, competitiveness, self-reliance and resilience of the economy, while perfecting harmonious and strategic infrastructure, particularly transport, digital, and climate change response infrastructure.

Illustrative image (Photo: baochinhphu.vn)

Focus will be placed on hi-quality workforce training and propelling start-ups and innovation, ensuring social welfare and improving material and spiritual lives.

The Government will continue with measures to improve the efficiency of using and managing land and natural resources, protect the environment and respond to climate change, increase the efficiency of external affairs and global integration, and further information and communications work to create social consensus.

PM Chinh said the Government hopes for close directions from the Party Central Committee and its Secretariat, the Politburo and Party General Secretary Nguyen Phu Trong, and support from the National Assembly, the President, the Vietnam Fatherland Front, socio-political and mass organisations, voters and people nationwide so as to accomplish the 2022 and 2023 tasks, contributing to realising 2021-2025 socio-economic development tasks set by the 13th National Party Congress./.