ID :
11028
Sat, 06/28/2008 - 11:04
Auther :
Shortlink :
https://oananews.org//node/11028
The shortlink copeid
Vietnam's economy maintains growth despite inflation
Hanoi (VNA) - Vietnam 's economy maintained its growth in June and the first half of 2008 as a whole despite impacts from inflation, price fluctuation, bad weather, and diseases.
At a conference on June production held in Hanoi on June 26,
representatives from ministries, agencies, localities and corporations
agreed that the GDP growth rate of 6.5 percent recorded in the past six
months was a success, creating an impulse to obtain the growth of 7 percent
in the remaining months of this year.
According to Deputy Minister of Planning and Investment Cao Viet Sinh, the
results signaled the initial effects of the Government's measures to curb
inflation.
In the reviewed period, Vietnam got a bumper winter-spring rice crop
with an output of 18 million tonnes, up 1 million tonnes over the same
period last year.
The agro-forestry-fisheries production value recorded a 4.5 percent
year-on year increase.
The industry production obtained a 16.3 percent increase, a considerable
high rate in the context of inflation. Almost localities reported higher
growth as compared to the same period last year.
The export turnover surged by 30 percent year-on-year to reach 29.7
billion USD.
The trade deficit saw a slowdown in June but the total of the past six
months still counted at 14.7 billion USD, or nearly half of the export
turnover and higher than the figure of 2007.
Deputy Minister Sinh said the trade deficit must be limited under 1
billion USD per month in the remaining six months to keep the total under
the benchmark of 19-20 billion USD. "However, the slowdown in trade deficit
in June proved that control measures starts its action," he added.
Other positive signals from the economy included the slowdown increase of
the consumer price index (CPI) in June, which was estimated at 2.14 percent,
much lower than the May record of 3.91 percent.
The foreign direct investment (FDI) attraction in the past six months also
set a record of 31.6 billion USD, outdistancing the 2007 figure of 21.3
billion USD.
The conference also agreed on some existing problems, including the high
prices of some key materials and consumer goods, natural disasters and
diseases, slow capital disbursement, and sluggish construction process of
major projects.
Deputy Minister Sinh stressed that the situation required more efforts
from the Government, ministries, agencies and the whole community for higher
growth rates in the rest of the year.-Enditem
At a conference on June production held in Hanoi on June 26,
representatives from ministries, agencies, localities and corporations
agreed that the GDP growth rate of 6.5 percent recorded in the past six
months was a success, creating an impulse to obtain the growth of 7 percent
in the remaining months of this year.
According to Deputy Minister of Planning and Investment Cao Viet Sinh, the
results signaled the initial effects of the Government's measures to curb
inflation.
In the reviewed period, Vietnam got a bumper winter-spring rice crop
with an output of 18 million tonnes, up 1 million tonnes over the same
period last year.
The agro-forestry-fisheries production value recorded a 4.5 percent
year-on year increase.
The industry production obtained a 16.3 percent increase, a considerable
high rate in the context of inflation. Almost localities reported higher
growth as compared to the same period last year.
The export turnover surged by 30 percent year-on-year to reach 29.7
billion USD.
The trade deficit saw a slowdown in June but the total of the past six
months still counted at 14.7 billion USD, or nearly half of the export
turnover and higher than the figure of 2007.
Deputy Minister Sinh said the trade deficit must be limited under 1
billion USD per month in the remaining six months to keep the total under
the benchmark of 19-20 billion USD. "However, the slowdown in trade deficit
in June proved that control measures starts its action," he added.
Other positive signals from the economy included the slowdown increase of
the consumer price index (CPI) in June, which was estimated at 2.14 percent,
much lower than the May record of 3.91 percent.
The foreign direct investment (FDI) attraction in the past six months also
set a record of 31.6 billion USD, outdistancing the 2007 figure of 21.3
billion USD.
The conference also agreed on some existing problems, including the high
prices of some key materials and consumer goods, natural disasters and
diseases, slow capital disbursement, and sluggish construction process of
major projects.
Deputy Minister Sinh stressed that the situation required more efforts
from the Government, ministries, agencies and the whole community for higher
growth rates in the rest of the year.-Enditem
