PM orders ensuring macro-economic stability, controlling inflation

Vietnam’s economic growth this year is projected at nearly 8 percent, up 1.5-2 percent 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.
PM orders ensuring macro-economic stability, controlling inflation ảnh 1 Prime Minister Pham Minh Chinh speaks at the event (Photo: VNA)
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 percent in the period under review, and is expected to hike by nearly 4 percent for the whole of this year. Growth in agriculture reached 2.99 percent, industry and construction 9.44 percent, and services 10.57 percent. Export-import value surpassed US$558 billion, up 15 percent and trade surplus hit US$6.76 billion.
Attention was paid to the fight against the Covid-19 pandemic, natural disasters, corruption and negative phenomena, contributing to strengthening public trust. About VND87 trillion (US$3.78 billion) in aid has been given to about 56 million people, workers and over 730,000 employers hit by Covid-19.
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 control interest rates proactively and flexibly, and to hasten the disbursement of public investment capital and the progress of the socio-economic recovery and development program along with three national target programs.
Next year, there are 15 key socio-economic and environment targets, including GDP growth of around 6.5 percent, CPI of some 4.5 percent, social productivity of 5-6 percent, the rate of unemployment below 4 percent, and a 1-1.5 percent decrease in multidimensional poverty reduction.
PM orders ensuring macro-economic stability, controlling inflation ảnh 2 Delegates at the event (Photo: VNA)
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.
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 organizations, voters and people nationwide so as to accomplish the 2022 and 2023 tasks, contributing to realizing 2021-2025 socio-economic development tasks set by the 13th National Party Congress.

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