Investment efficiency improved in first half
VGP - The investment-GDP ratio in Việt Nam stood at 38.3% in the first half of this year while economic growth stood at 5.57%, resulting in the incremental capital-output ratio (ICOR) of 6.9, lower than the ratio of 7.38 last year. The figure reflected improvement in investment efficiency.
 |
|
The press briefing on releasing socio-economic data in the first half of 2011, Hà Nội, June 29, 2011- - Photo: VGP |
According to the GSO, ministries, sectors, localities, economic groups and state-owned corporations have so far this year cut or slashed VND80,550 billion in investment, or 9% of the total social investment in 2011. Ministries and agencies at central and grass-root levels have so far this year saved VND3,800 billion in electricity spending.
GSO General Director Đỗ Thức said, the GDP growth of 5.57%, though lower than the rate of 6.18% in the first half of last year and lower than the target, was a rational rate.
In the first six months, the poor household rate was around 13%, compared with 14.2% in late 2010.
Meanwhile, the total state budget collection was estimated at VND301,300 billion, realizing 50.6% of the annual plan, and the total budget spending reached VND331,500 billion, fulfilling 45.7% of the target set for the year.
The budget overspending from January to June was kept at low level of 2.8%, and the Government has determined to keep it below 5% in 2011.
The inflation rate was 6.65% in the first half period and is expected to be lower in the second half of this year, according to Mr. Nguyễn Đức Thắng, Director of the GSO’s Price Statistics Department.
By Ngọc Vân
