The socio-economic situation continues to change positively...

At the meeting, the Prime Minister requested Government members to focus on discussing the socio-economic situation in May and the first 5 months and the key tasks and solutions in June and the coming time, especially analyzing the new and different context; difficulties and challenges.

Long-standing backlog projects are being actively addressed.

On the morning of June 4, Prime Minister Pham Minh Chinh chaired the regular Government meeting in May 2025 to assess the socio -economic situation in May and the first 5 months of 2025; the allocation and disbursement of public investment capital; the implementation of national target programs; and at the same time identify and deploy key tasks in June 2025 and in the coming time.

According to the Government Electronic Information Portal, in his opening speech, Prime Minister Pham Minh Chinh said that in May, the world situation continued to be very complicated, unpredictable, with many risks and uncertainties; international organizations lowered their forecasts for economic and trade growth in 2025; armed conflicts occurred in many regions, strategic competition was fierce and escalated; non-traditional security issues, wars, and conflicts were increasingly difficult to predict... affecting the global economic situation, especially major markets and global supply chains.

In the context of difficulties, challenges, urgent time, high requirements, and complex nature, the socio-economic situation continues to trend positively. The macro economy is stable, inflation is controlled, major balances of the economy are ensured, in which on June 2, electricity consumption reached a record high, but electricity supply is still guaranteed; budget deficit, public debt, government debt, and foreign debt are well controlled; growth is promoted; all three sectors of agriculture , industry, and services are developing positively.

Cultural and social fields are focused on; social security is ensured, in which the National Assembly and the Government have issued resolutions on specific mechanisms and policies for social housing development, the program to eliminate temporary and dilapidated houses nationwide is reaching its goal; the material and spiritual life of the people is improved. Politics and society are stable; national defense and security are consolidated and enhanced, social order and safety are maintained; foreign affairs are promoted. Long-standing backlog projects, with a total capital of about 240 billion USD and more than 200,000 hectares of land, are being actively resolved.

Prime Minister Pham Minh Chinh said that despite many important achievements, the economy still has many shortcomings and difficulties, and challenges are still very large, such as: Pressure on macroeconomic management; production and business in many fields are difficult. The real estate market has not improved much; the gold market is still complicated; smuggling, trade fraud, trading in counterfeit goods, fake goods, goods of unknown origin, and food safety are complicated.

Exports are being promoted, especially to large, traditional and new markets such as China, Brazil, Japan, new products such as Halal food, etc., but need to be further promoted. Administrative procedures are still cumbersome in some places. Social order and security, especially drugs and cyber security, still face many challenges.

Prime Minister Pham Minh Chinh chairs the regular Government meeting in May 2025 (Photo: VGP)

At the meeting, the Prime Minister requested Government members to focus on discussing the socio-economic situation in May and the first 5 months and the key tasks and solutions in June and the coming time, especially analyzing the new and different context; difficulties and challenges.

On that basis, propose solutions for direction and administration of the Government, Prime Minister, ministries, branches and localities to ensure proactive, timely, flexible and effective implementation of tasks, especially the organization of two-level local governments; organization of Party congresses at all levels, towards the 14th National Party Congress; implementation of the "four pillars"; achieving growth targets; and at the same time completing the goals for 2025 and the entire term.

Socio-economic situation continues to change positively

Reporting at the meeting, the Ministry of Finance said that in the first 5 months of 2025, the Government and the Prime Minister issued 115 legal documents, 2,574 directive and administrative documents; chaired and organized 1,025 conferences, meetings, worked and went on business trips to localities and bases to directly inspect and urge the implementation of many important and key infrastructure projects. Many policies and solutions directed by the Government and the Prime Minister resolutely and promptly since the beginning of the year have been effective.

Thanks to that, the socio-economic situation in May and the first 5 months of 2025 continued to change positively, better than the previous month and the same period last year; this is the driving force to strive to exceed the socio-economic development targets and tasks in June and the coming time.

The macro economy is basically stable, inflation is under control, growth is promoted, and major balances of the economy are ensured. The average consumer price index (CPI) in the first 5 months increased by 3.21% over the same period. The money market is basically stable; lending interest rates continue to be adjusted downward, especially short-term lending rates.

State budget revenue in the first five months reached nearly 58% of the estimate, up 24.5% over the same period; State budget expenditure increased by 27.7%, thoroughly saving regular expenditure, meeting the tasks of spending on socio-economic development, national defense, security, paying due debts and regimes and policies according to regulations.

Total import-export turnover, export and import of goods in May increased sharply compared to the same period, export increased by 14%, trade surplus is estimated at 4.67 billion USD. Disbursement of public investment capital accelerated significantly; estimated disbursement by the end of May was 199,300 billion VND, reaching 24.13% of the plan assigned by the Prime Minister, 2.5% higher in proportion and 56,000 billion VND in absolute number compared to the same period.

Major sectors and fields of the economy maintained positive growth momentum. The industrial production index (IIP) for the first 5 months increased by 8.8%. Total retail sales of goods and consumer services revenue for the first 5 months increased by 9.7% over the same period. The purchasing managers index (PMI) for May reached 49.8 points.

The tourism industry has grown positively; in the first 5 months, international visitors to Vietnam reached more than 9.2 million, up 21.3% over the same period. Attracting foreign direct investment (FDI) continues to be a bright spot; total registered FDI capital in the first 5 months reached 18.4 billion USD, up 51.1%, realized FDI capital reached about 8.9 billion USD, up 7.9% over the same period...

Source: https://baodaknong.vn/tinh-hinh-kinh-te-xa-hoi-tiep-tuc-chuyen-bien-tich-cuc-254572.html