VietNamNet Bridge – Deputy Prime Minister Nguyen Xuan Phuc today, June 15, affirmed that the economy has overcome difficulties and has started to recover.

He said the growth of GDP at 6 per cent this year, inflation at 7-8 per cent and other targets set by the National Assembly, were possible.

He made the statement in response to concerns about economic growth and support measures for enterprises during the 3rd session of the 13th National Assembly.

He said all results related to economic growth and production activities in the second quarter were better than the first quarter.
Specifically, the growth of GDP in the second quarter reached 4.5 per cent, higher than the first quarter (at 4 per cent) and the Index of Industrial Production increased by 4.4 per cent.

Total retail and service sales in the first five months recorded VND952 trillion, 20.3 higher than the same period last year while Consumer Price Index (CPI) growth in the first six months came to nearly 3 per cent, the lowest figure in the past three years.

Last month, about 4,000 enterprises stopped operating or went bankrupt while more than 30,100 new companies have been registered.

Enterprise inventories decreased to 29.4 per cent last month from 35 per cent in March.

However, the economy has faced a lot of challenges, which have pushed the Government to keep implementing measures to boost production and trading activities, he said.

He added the government would keep implementing monetary and fiscal policies, settling bad loans, lowering interest rates and supporting enteprises to extend their markets and consume their inventories.

Besides, management of investment resources from State budget, State bonds and ODA would be improved.

VietNamNet/Viet Nam News