VietNamNet Bridge – Explaining the reliability of statistics before the National Assembly (NA), Minister of Planning and Investment Bui Quang Vinh said that data provided by the General Statistics Office (GSO) is acceptable and the local economy has really seen recovery signs.

Illustrative image. -- Source: baolamdong

Many NA deputies during the session last Friday questioned the accuracy of economic indicators provided by the ministry as they believed that many important macroeconomic figures were worse. Vinh said that GSO’s figures are basically acceptable but he admitted that the figures are not ‘absolutely right’.

According to the national target system approved by the Government, the statistics industry only calculates 146 out of 350 indicators. For the remainder, ministries and agencies are in charge of calculation.

For instance, ordinances on statistics and taxes of other countries are strong while their citizens follow the rules seriously. The situation in Vietnam is totally different. Therefore, investigation staff may not receive correct answers from residents, Vinh said.

As ministries do not have private statistics departments, they mainly rely on reports from grassroots levels, resulting in more errors and lower accuracy. This is why gross domestic product (GDP) figures calculated by local authorities are much different from that of the central level.

However, Vinh said that the ministry is neutral in announcing indicators of the economy. He took Lam Dong Province for example as the province reported GDP growth rate of 14.8% between January and September compared to this year’s target of 5-16%. This was the strongest GDP growth in the country.

“This is a reasonable growth rate,” Vinh said. Having studied reports of the Central Highlands province, the ministry found that production value of its mining industry increased by 20% with 240 more tons of alumina. Electricity output of the province also increased strongly as new turbines were put into operation.

Besides, expanded coffee farming area and added value of the agriculture industry also helped boost Lam Dong’s GDP growth. These are reasons for the 14.8% GDP growth rate of Lam Dong Province, although this figure might be not ‘absolutely right’, Vinh said.

Source: SGT