11 months: Budget revenue exceeds 21% of estimate, import and export boom

At the regular Government meeting in November on the morning of December 6, Minister of Finance Nguyen Van Thang reported on important economic indicators.

Specifically, the consumer price index (CPI) in 11 months increased by about 3.29% compared to the same period last year. The state budget revenue in 11 months is estimated at nearly 2.4 quadrillion VND, equal to 121.9% of the estimate and increased by 30.9% compared to the same period with the state budget revenue structure towards sustainability. Deficit and public debt are well controlled. Energy security and food security are maintained.

Notably, growth drivers continued to be promoted and renewed. Total registered FDI capital in 11 months reached nearly 33.7 billion USD, up 7.4%, and realized FDI capital was about 23.6 billion USD, up 8.9% over the same period last year.

Total import-export turnover in 11 months is estimated at nearly 840 billion USD, up 17.2%, trade surplus reached 20.53 billion USD. Total retail sales of goods and consumer service revenue in 11 months increased by 9.1%; international visitors reached 19.15 million, up 20.9%.

At the same time, production and business grew positively. The Industrial Production Index (IIP) in November increased by 2.3% compared to the previous month and by 10.8% compared to the same period last year; the total increase in 11 months was 9.3%.

According to the Minister, it is estimated that 20/34 localities will achieve a GRDP growth rate of 8% or more in 2025, of which 6 localities will have double-digit growth: Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh and Quang Ngai.

However, in addition to the achieved results, Minister Nguyen Van Thang also clearly analyzed the existing difficulties and challenges. Specifically, this year's growth mission still faces many challenges. The remaining time of the year is very short, while growth drivers in investment, consumption, and export continue to face risks and difficulties from the external market, US tariff policies, etc. and internal problems of the economy.

11 tháng: Thu ngân sách vượt 21% dự toán, xuất nhập khẩu bùng nổ - 1 — Minister of Finance Nguyen Van Thang speaks at the regular Government meeting in November (Photo: VGP).

Disbursement of public investment capital in 11 months only reached 60.6% of the plan; the progress of some key projects was affected by landslides, prolonged rains and floods. Private investment has not met expectations; investment promotion and attraction of large-scale FDI projects still face obstacles.

According to incomplete estimates, natural disasters caused the GRDP growth rate in the fourth quarter of Hue city, Dak Lak, Gia Lai, Khanh Hoa... to decrease by about 1%, the whole year to decrease by about 0.2-0.3% and reduced the country's GDP growth in the fourth quarter by about 0.1%.

In addition, the macro economy is basically stable, but under a lot of pressure. The work of perfecting institutions and laws has been directed with attention, but has not yet kept up with development requirements.

Natural disasters in the last month of the year continue to be complicated and unpredictable. Smuggling, trade fraud, counterfeit goods, etc. often become complicated at the end of the year. Air pollution in large cities continues to require attention.

In that context, Minister Nguyen Van Thang proposed that all levels, sectors and localities need to be more proactive, resolute and closely follow up in organizing the implementation of a number of key task groups.

Firstly, relevant agencies must promptly promulgate and submit for promulgation detailed regulations and instructions for implementing laws and resolutions passed by the National Assembly.

Second, it is necessary to consistently implement the priority goal of maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances to create a favorable investment and business environment and promote rapid and sustainable growth.

Third, continue to focus on preventing, combating and overcoming the consequences of natural disasters, stabilizing people's lives, and restoring production and business.

Fourth, coordinate well in preparing for the organization of the 11th National Patriotic Emulation Congress and the 14th National Party Congress. At the same time, prepare to organize the Inauguration and Groundbreaking Ceremony of large-scale works and projects on December 19 to welcome the 14th National Party Congress.

Along with that, it is necessary to continue perfecting institutions, laws, reforming administrative procedures; promoting investment, stimulating consumption and strongly developing new growth drivers, science and technology, innovation, digital transformation; boosting exports, developing harmonious and sustainable trade; focusing on developing culture and society, preparing for Lunar New Year...

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