Deputy PM demands appropriate moves be made to avoid economic shocks hinh anh 1Vietnam posted an economic growth rate of 6.42% in the first half of 2022. (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister Le Minh Khai requested appropriate measures be taken to guarantee macro-economic stability and control inflation to avoid economic shocks while maintaining normal production and business activities and ensuring people’s jobs and income.

Addressing a teleconference on July 7 to review the six-month implementation of financial - budgetary tasks, the Deputy PM highlighted the year-on-year GDP growth of 6.42% in the first half of 2022, compared to 5.74% in the same period last year, with the second-quarter pace of 7.72% being the fastest since 2011.

Macro-economic stability was sustained while major balances kept and inflation under control, he said, noting that the consumer price index (CPI) rose 2.96% in Q2 and 2.44% in H1, relatively low compared to the same periods of pre-pandemic years.

This was the result of enormous efforts amid surging inflation in many countries, he added.

Deputy PM demands appropriate moves be made to avoid economic shocks hinh anh 2Deputy PM Le Minh Khai speaks at the teleconference on July 7. (Photo: VNA)
Thanks to achievements in the socio-economic recovery and development process, Vietnam was one of the two Asian-Pacific economies to have its long-term sovereign credit rating raised to “BB+” with a “stable outlook” by S&P.

Khai applauded the financial sector’s contributions to those accomplishments, saying not so many fiscal policies have been carried out like during the COVID-19 pandemic and H1 this year, helping tackle difficulties facing businesses and people and facilitate socio-economic recovery and development.

Pointing out challenges to the economy, he asked the sector not to rest on its laurels but keep a close watch on the situation and make timely response to fast changes in order to surpass development targets for 2022, including an economic growth rate of 6.5%, inflation kept under 4%, and macro-economic stability maintained./.