Vietnam's economy belongs to the group with the highest growth rate in the world

In 2018, Vietnam has the highest GDP growth rate of 7.08% since 2008, belonging to the group of economies with the highest growth rates in the region and the world

Vietnam's economy belongs to the group with the highest growth rate in the world

Vietnam News - In 2018, Vietnam has the highest GDP growth rate of 7.08% since 2008, belonging to the group of economies with the highest growth rates in the region and the world, according to the Government report .. .

That is the information in the report on supplementing socio-economic development results in 2018, the first months of 2019 were presented by Deputy Prime Minister Truong Hoa Binh on May 20 in the opening session of the second session. 7 of the National Assembly.

Macro economy continues to be stable

Regarding the results of the first months of 2019, the Government assessed that the socio-economic situation continues to be positive, the macro economy continues to be stable, inflation is controlled; Average consumer price index (CPI) increased by 2.71% in 4 months, the lowest in the last 3 years. The interest rate level is stable, down 0.5% for priority areas; The demand for credit capital for the economy, system liquidity and safety is guaranteed; fierce struggle with black credit. Exchange rate and foreign exchange market are stable; State foreign exchange reserves reached a record.

However, the economy continues to face difficulties and challenges. Macroeconomics has not been really stable due to crude oil prices, trade conflicts, geopolitical tensions in many places, unstable and unpredictable.

Progress of implementation and disbursement of public investment capital in many ministries, branches and localities is still slow. Equitization and divestment in state-owned enterprises have not met the requirements. Poor project handling, losses are still difficult. State budget expenditures in some agencies and units are not really economical. Managing public assets, land and resources is inadequate.

Growth of some sectors and sectors tends to slow down. Agricultural production is difficult, cholera of African pigs spreads and hot weather, lack of water greatly affects production and life. Prices of many agricultural products in the world and in the country have decreased, affecting production and income of people.

The service, tourism, and reporting sectors, which have not yet reached their full potential, strength, visa exemption, e-visa, and airline connections to key markets are limited. Improving the business environment, improving competitiveness in some areas is still slow, some places are not really drastic. Business production still faces many difficulties, the ability to mobilize resources, especially credit, land, high-quality human resources and market expansion, product consumption is limited, especially for small and medium enterprises; The situation of smuggling and trade fraud is complicated.

Still in the limited part, the report stated, the renovation of education and training is still inadequate, there are also acts, violations of teachers' morality, school violence, child pornography and the recession of ethics, lifestyle, behavioral culture, examination fraud, taking advantage of religion, beliefs ... causing social annoyance.

Besides, research capacity, policy proposal did not meet the requirements, while some regulations overlap, lack of feasibility, slow to be revised, not follow up with the reality of life to solve timely problems. social problems Discipline and discipline to perform public duties in many agencies and units are not serious; effective coordination is not high; there is a situation of avoiding and pushing responsibility. The situation of harassment, nuisance and corruption of a part of cadres, civil servants and officials has not been effectively prevented. The situation of order and security is complicated in some localities, there are many serious traffic accidents and fire and explosion.

See more: Vietnam's private economy is one of four pillars of growth

Thorough handling of black credit

Presenting key tasks and solutions in the coming time, Deputy Prime Minister Truong Hoa Binh affirmed that the Government is determined to consolidate the macro foundation, ensure the major balances of the economy, promote growth. .

Specifically, implementing proactive and flexible monetary policies, closely coordinating and harmonizing with fiscal policies and other macro policies. Ensuring reasonable credit growth associated with improving credit quality, focusing on priority areas. Promoting the role of micro credit, thoroughly handling black credit. Maintaining stable foreign currency market, striving to increase the state foreign exchange reserves.

The Government also determined to continue to tighten financial and budgetary discipline, strengthen management of revenues and expenditures and step by step restructure the state budget. Expanding tax bases, strengthening management of the informal sector; There are appropriate tax incentives for small and medium enterprises, encouraging the conversion of individual business households into enterprises. Attention should be paid to anti-revenue, price transfer and tax debts. Promote the implementation of electronic invoices. Strictly managing budget expenditures, thoroughly saving regular expenditures. Stable development, improving operational efficiency, increasing capital mobilization through the stock market.

With the restructuring of the economy, the Government said, continue to review and improve mechanisms and policies to promote economic restructuring, especially in Vietnam finance, credit, trade and investment. planning, using land resources, resources, labor ...

The next solution is to focus on directing the implementation, creating clearer and more substantial changes in restructuring credit institutions associated with handling bad debts, especially weak credit institutions. Improve quality, service diversification and proportion of income from service activities. Promoting non-cash payment, high technology application, developing a variety of credit and banking services. Strengthening inspection and supervision, especially for weak commercial banks, ensuring system safety; strictly handle violations.
Vietnam Economy




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Vietnam's economy belongs to the group with the highest growth rate in the world
In 2018, Vietnam has the highest GDP growth rate of 7.08% since 2008, belonging to the group of economies with the highest growth rates in the region and the world
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