Economy witnesses positive signs, says PM
15:50 | 01/08/2019
VGP – PM Nguyen Xuan Phuc highlighted lower lending interest rates and increasing Purchasing Managers’ Index (PMI) are among positive signals while presiding over the Government’s meeting Thursday.

Growth rates of key indicators in the first seven months of 2019. VGP graphics

PM Phuc said that four major commercial lenders have recently declared lending interest rate cuts in a bid to reducing production costs, facilitating business operation and economic growth.

In addition, Viet Nam’s PMI jumped from 52.5 points in June to 52.6 points in July. In ASEAN, Viet Nam ranked second after Myanmar with 52.9 points and outstripped the Philippines with 52.1 points, and Thailand with 50.3 points. The production sector is expected to attain double-digit growth in Q3, 2019, said PM Phuc.

He added that amidst world’s difficult economic situations, international organizations still have positive outlooks on the Vietnamese economy in 2019 and the next couple of years. The Asian Development Bank (ADB) forecast that Viet Nam would expand 6.8% while the IMF, the WB, and the SHBC predict that the Southeast Asian economy may grow 6.5%; 6.6%; and 6.7% respectively.

Viet Nam climbed three notches in the global Sustainable Development Goal (SDG) Index 2019, to 54th out of 162 countries and territories and ranked second in ASEAN.  The country went up three ranks on the 2019 Global Innovation Index (GII) to 42nd out of 129 economies and third in ASEAN.

PM Phuc assessed that the socio-economic performance progressed positively in July. The macro-economy followed positive trend. July’s CPI picked up 0.18% against the previous month. Inflation rate saw a year-on-year increase of 2.61% in the first seven months.

Total State budget collection was also positive. Export turnover reached over US$ 145 billion, up 7.5%. The country ran a trade surplus of US$ 1.8 billion. The amount of FDI disbursement hit US$ 10.6 billion, representing a year-on-year growth of 7.1%.

The number of foreign visitors increased nearly 8%. Ha Noi was listed in the world’s top 20 foodie walking tours and Hoi An was named the world’s best city in 2019.

In addition, social welfare, job generation, poverty reduction, healthcare and education attached due attention. People’s living standards were improved. Especially, 3,900 tons of rice relief was given.

However, PM Phuc stressed the necessity to discuss on shortcomings and limitations especially the difficultly agricultural production, the third tropical strorm, ongoing hot weather in the Central and Central Highlands Regions, and serious African swine fever outbreaks.

He also mentioned a series of prolong key industrial, energy, and transport projects.

As scheduled, the Government will comment on investment activities of the State Capital Investment Corporation (SCIC); an overall plan on socio-economic development in ethnic minority-inhabited, mountainous and particularly disadvantaged areas in the 2021-2025 period; amend and supplement Resolution 51 on measure to restructure the state budget and manage public debts./.

By Kim Loan

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