PM vows to achieve macro-economic targets this year

By Toan Dao   May 31, 2016 | 09:10 am GMT+7

Prime Minister Nguyen Xuan Phuc said Monday the government is determined to reach macro-economic goals previously set for this year, according to a government statement.

Phuc and Deputy Prime Minister Vuong Dinh Hue held an exclusive meeting with key relevant government ministries and agencies to discuss the country’s macro-economic performance in the first five months.

“[We are] determined to achieve the socio-economic targets set earlier,” Phuc said and asked ministries and agencies to establish their specific action plans, "not just talk."

Last April, PM Phuc set the target for GDP to grow 6.7 percent this year. However, Vietnam’s GDP growth in the first quarter of 2016 was registered at 5.46 percent, according to the General Statistics Office, while a government economic institute forecast Vietnam’s GDP growth for Q2/2016 to reach 6.17 percent in Q2.

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Prime Minister Nguyen Xuan Phuc at the meeting. Photo by VGP/Quang Hieu

Phuc emphasized on the mobilization of both internal and external resources for economic growth with main focus being given to disbursement of capital into basic infrastructure projects. Capital from official development assistance (ODA), government bonds and other sources in the national budget must be disbursed effectively into needed projects, he said, asking the relevant ministries and agencies to form a working group to address disbursement issues.

Equitization or selling government shares in state-owned enterprises must be boosted to have resources for economic growth, the Prime Minister said.

“In gross domestic product (GDP) growth, attention should also be paid to quality, not only to quantity. [We have to] care about people in remote areas as well as those affected by natural disasters, flood and drought,” Phuc said, adding that improving people’s belief, through media, is crucial in realizing the set targets.

Deputy Prime Minister Hue also said Monday the government will make every effort to keep inflation for the whole year at below five percent.