VietNamNet Bridge – The macro economy has started showing signs of recovery with growth seen in most industries in the year’s first half, but such achievements are still fragile, according to the Ministry of Planning and Investment.

Illustrative image. (Source: Internet)

In a draft report reviewing economic activities in the six-month period, the ministry says 2013 is regarded to be more difficult than last year.

The draft report, which needs updates and revisions before its release in the coming days, shows that the economic growth rate in the second quarter is estimated at around 5%, higher than in the first quarter and taking the overall growth in the first half to 4.9%.

Money supply in the period is up 7.5-7.8% from last year compared to 7.51% in the year-ago period. Meanwhile, credit inches up by 3.8-4%, doubling the figure recorded at the same time last year.

The estimated total export turnover is over US$62.1 billion, up over 16% year-on-year, while the total import turnover reaches US$63.5 billion.

According to the draft report, trade deficit estimated at some US$1.4 billion is still under control.

In addition, total investment capital has amounted to nearly 40% of the year’s target.

Meanwhile, the index of industrial production (IPP) has improved but it stays at only 5.2%, lower than the 6.1% in last year’s same period.

In terms of agriculture, the draft report warns of difficulties in rice production, and livestock and seafood farming.

The State budget collection is also below expectations as the total amount collected has accounted for nearly 40% of the target for the year.

Despite such results, the draft report points out that the macro economy has not been really stable and high inflation may return. In addition, interest rates have declined, but it is not easy to get access to bank loans due to the tough handling of the bad debt issue.

Source: SGT