Economic shake-up crucial for fulfilling socio-economic targets
Minister: Economic shake-up crucial for fulfilling socio-economic targets
Economic restructuring should be channelled more specifically to realise the socio-economic targets set by the National Assembly, not only for 2018 but also for the following years, said Minister of Planning and Investment Nguyen Chi Dung.
At a teleconference on September 24 with localities nationwide to evaluate the socio-economic situation in 2018 and set up plans for 2019 (Photo: VNA)
Hanoi (VNA) – Economic restructuring should be channelled more specificallyto realise the socio-economic targets set by the National Assembly, not only for2018 but also for the following years, said Minister of Planning and InvestmentNguyen Chi Dung.
At a teleconference on September 24 with localities nationwide to evaluate thesocio-economic situation in 2018 and set up plans for 2019, Dung underlinedthat cities and provinces should strictly implement the Government’s ResolutionNo.01/NQ-CP 2018 on key missions and solutions to realise the socio-economicplan and state budget estimate in 2018.
He also laid stress on the organisation of the conference, which he describedas a breakthrough for the sector in carrying out socio-economic developmentsolutions in a prompt, sustainable, and effective manner.
According to Tran Quoc Phuong, Director of the National Economic IssuesDepartment under the Ministry of Planning and Investment, thanks to concertedefforts made by the Government, ministries, sectors, localities and businessesas well as support from international organisations and local people, Vietnamhas recorded positive socio-economic development in 2018.
A stable macro-economy is a remarkable achievement and was the driving force behindthe economic restructuring, as well as motivated other sectors, he said, addingthat the GDP was estimated at 6.7 percent and inflation was under control with theconsumer price index (CPI) being well maintainedbelow 4 percent.
The financial market experienced stable progress as credit growth was curbed ataround 17 percent, meeting sufficient capital for the production and businesssector, he said.
Improvements were seen in other important indexes, for example the debt ratefell from the 63.7 percent at the end of 2016 to around 61.4 percent this year.State budget collection was estimated at more than 1.35 quadrillion VND (57.8billion USD), up 3 percent from the initial forecast and 5 percent from 2017.
However, State budget overspending was reckoned at 3.67 percent, higher thanthe level assigned by the National Assembly.
The teleconference also shed some light on the disbursement of public investmentand ODA, FDI attraction, the renewal of the growth model, amendments to the Lawon Public Investment, and the building of a revised planning law.–VNA
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At a teleconference on September 24 with localities nationwide to evaluate the socio-economic situation in 2018 and set up plans for 2019 (Photo: VNA) 
