PM tells ministry to push for high GDP after low first quarter growth

By Toan Dao   April 21, 2016 | 12:21 pm GMT+7
PM tells ministry to push for high GDP after low first quarter growth
Prime Minister Nguyen Xuan Phuc. Photo by VnExpress

Prime Minister Nguyen Xuan Phuc on Thursday said the government will not allow the country’s economic growth to decline this year.

“We will not accept lower economic growth,” Phuc said at a meeting with the Ministry of Planning and Investment on Thursday. The ministry, in charge of advising the party and central government on policies for the country’s social economic development, is one of the first ministries the new prime minister has met with. His comments were made after Vietnam’s GDP growth in the first quarter registered 5.46 percent, lower than the 6.12 percent recorded in Q1 last year. 

He asked government officials to formulate policies to ensure economic growth and use management tools promptly and effectively.

The country has encountered several challenges since the beginning of this year, including severe drought and saline intrusion, which, according to some international organizations, may cause GDP growth to fall. Other difficulties included low oil prices, budget collection, business development and the complex situation in the East Sea, according to Phuc.

Chairing his first meeting with the new cabinet earlier this month, Phuc said the government would focus on dealing with drought and saline intrusion, the business environment, budget collection, stimulating economic growth in the context of natural disasters and falling oil prices, strengthening administrative reform and addressing issues of critical public concern such as food safety and hygiene.

The prime minister will meet with the private sector on April 29 as part of his agenda to clear barriers facing enterprises and improving the business environment. 

 
 
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