Socio-economic growth continues, inflation decreases

On the evening of July 4, the Government Office held a regular Government press conference, providing information on the socio-economic situation in June and the first half of 2023.

Overview of the regular Government Press Conference in June 2023. (Photo: Gia Thanh)

The press conference took place under the chairmanship of Minister, Head of the Government Office Tran Van Son, Spokesperson of the Government.

The economy continues to grow

Speaking at the press conference, Minister Tran Van Son said that the meeting took place in the context that our country has just passed half of the journey of 2023 - a journey in which our country has to face many difficulties and challenges due to the rapid, complicated, and unpredictable developments of the world situation with many unfavorable factors.

In that context, the socio-economic situation continued to grow. Inflation continued to decrease. Economic growth recovered when the Gross Domestic Product (GDP) in the second quarter increased by 4.14%, higher than the increase in the first quarter (3.32%), and the total increase in the first 6 months was 3.72%.

The monetary market and exchange rate are basically stable; the average deposit interest rate is 5.8%/year (down 0.7% compared to the end of 2022), the average lending interest rate is 8.9%/year (down 1%).

Imports and exports tend to increase again. In June, exports increased by 4.5%, imports increased by 2.6% compared to May, with a trade surplus of 2.59 billion USD. In the first 6 months, the trade surplus was 12.25 billion USD. State budget revenue and expenditure ensured progress, with enough revenue to cover expenditure. In the first 6 months, the country collected 876 trillion VND, reaching 54% of the yearly estimate.

Major sectors and fields recovered well. Agriculture continued to be a solid support for the economy; 4.27 million tons of rice were exported in the first 6 months, with the total value of agricultural exports reaching 24.6 billion USD.

Industrial production continued to increase again: Quarter II increased by 1.56% (quarter I decreased by 0.75%); overall 6 months increased by 0.44% over the same period.

The service sector maintained a high growth rate: total retail sales of goods and consumer service revenue in the first 6 months increased by 10.9% over the same period. International visitors in the first 6 months reached 5.6 million, 9.3 times higher than the same period.

Minister Tran Van Son stated that the last months of the year must consistently implement the following goals: Resolutely and persistently focus on implementing the general goals according to the Resolution of the 13th Party Congress, the Resolutions and Conclusions of the Central Committee, the Politburo, the Resolutions of the National Assembly and the Government.

At the same time, priority must be given to removing difficulties for production and business, especially prioritizing growth associated with macroeconomic stability and ensuring people's lives.

In directing and operating, special attention should be paid to ensuring a harmonious and reasonable balance between interest rates and exchange rates; growth and inflation, supply and demand; monetary policy and fiscal policy; and closely monitoring and grasping the internal and external situation.

Họp báo Chính phủ thường kỳ tháng 6/2023: Kinh tế-xã hội tiếp tục có bước tăng trưởng, lạm phát giảm

Minister Tran Van Son at the press conference. (Photo: Nhat Bac)

10 solutions

Minister Tran Van Son informed that in the last 6 months of the year, to solve difficulties and challenges, the Prime Minister requested ministries and branches to focus strongly and effectively on 10 groups of tasks and solutions. Specifically as follows:

Firstly, grasp the situation, based on functions, tasks and powers to proactively respond and resolve promptly and effectively (in cases beyond authority, report and propose immediately to the Government and Prime Minister).

Second, tighten discipline, promote administrative procedure reform, create favorable conditions for people and businesses, especially pay attention to not shirk responsibility, avoid harassment, negativity and strictly handle violations.

Third, strongly promote the three growth drivers: Investment, consumption, and export. It is necessary to further promote the disbursement of public investment capital and the implementation of key and important national infrastructure projects passing through localities; Provincial People's Committee Chairmen proactively and actively resolve the supply of common construction materials for highway projects.

Fourth, focus on removing difficulties, immediately overcoming stagnant production and business, restoring and finding new markets and orders; requesting each ministry, sector and locality to proactively review, take specific measures and actions to support businesses and investors in a timely, practical and effective manner.

Fifth, maintain macroeconomic stability, control inflation, promote growth, and ensure major economic balances.

Sixth, focus on ensuring social security, employment and people's lives (note the issue of salary increase and price control).

Seventh, promote the fields of culture, society, health, education and training, science and technology, environmental protection, energy conversion, green growth, and circular economy.

Eighth, strengthen the fight against corruption and negativity; maintain political and social stability; consolidate national defense and security; promote foreign affairs and international integration.

Ninth , focus on promptly and effectively resolving important, urgent or newly arising issues:

Tenth, prepare carefully and serve well the meetings of the Politburo, the Secretariat, and especially the Central Conference and the National Assembly session at the end of the year.

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