Important achievements recorded in domestic economic situation in eight months: MPI

The index of industrial production (IIP) increased 15.6% year on year in August and 9.4% in the first eight months of 2022. (Photo: VNA)

Hanoi (VNA) – Despite the changes in theworld situation, Vietnam has made positive recovery in business and productionactivities, stabilised macro-economy, controlled inflation, and ensured major economicbalances, according to a report by the Ministry of Planning and Investment(MPI) delivered at the Government regular meeting on September 6.

In August, consumer price index (CPI) rose 3.65 year onyear, pushing the average CPI in the first eight months to 2.58%,equivalent to the level recorded in the 2018-2021 period, said the report.

Budget collection in the first eight months of this year fulfilledabout 84.8% of the yearly estimate, up 19.4% year on year, while import-exportturnover rose about 17.3% over the same period last year in August and 15.5% inthe first eight months of this year, with trade surplus reaching 3.96 billionUSD in the eight months.

At the same time, the index of industrial production (IIP) increased15.6% year on year in August and 9.4% in eight months, according to the report.Total revenue from retail of goods and services in August was also up 50.2%year on year.

Particularly, important infrastructure such as  Van Don-Mong Cai and Ha Long-Mong Cai Expresswaysand Thu Thiem 2 Bridge were put into operation.

The report also highlights positive results in many areas suchas defence, security and external relations.

It said that as of August 28, 505 trillion VND (21.44billion USD) of public investment capital was disbursed, reaching 93.2% of thetarget.

An overview of the meeting (Photo: VNA)

Meanwhile, the Ministry of Finance reported that over 212trillion VND of capital from the State budget had been disbursed as of August 31,equivalent to 39.15% of the plan set by the PM.

As of September 2, 55.5 trillion VND of support to the socio-economicrecovery and development programme was disbursed, including more than 10trillion VND of soft loans through the Vietnam Bank for Social Policies.

The implementation of national target programmes has alsobeen on a right track, the ministry said.

Governor of the State Bank of Vietnam Nguyen Thi Hong saidthat in August and the first eight months, the inflation rate was kept at a lowlevel, while economic growth was relatively high, showing the efficiency of macro-economicpolicies.

Minister of Planning and Investment Nguyen Chi Dung saidthat many reputable organisations and experts are optimism about Vietnameseeconomic outlook, noting that the World Bank predicted 7.5% of Vietnam’s GDPgrowth for 2022 and 6.7% for 2023, while the Asian Development Bank and theInternational Monetary Fund also forecast that the figure may reach 6.5% and6%, respectively, for this year./.

VNA