National economy bouncing back in almost spheres: Official
|Minister - Chairman of the Government Office Tran Van Son speaks at the press conference on April 4. (Photo: VNA)|
Son told a press conference in Ha Noi on April 4 that the meeting reviewed the implementation of the socio-economic development plan, state budget estimate and public investment in 2022.
The delegates also evaluated the socio-economic situation last month and in the first quarter of this year, and discussed major orientations in the time ahead, among others.
They said the macro economy has remained stable, inflation has been controlled, and major economic balances as well as food and energy security have been ensured. Notably, the country's gross domestic product (GDP) in the first quarter of this year increased about 5.03 percent year-on-year.
The Ministry of Planning and Investment reported that during the first three months, the processing and manufacturing sector expanded 6.37 percent, maintaining its role as the driving force of the entire economy.
State budget collection stood at 460.6 trillion VND (20.15 billion USD), achieving 32.6 percent of the estimate and up 7.7 percent year-on-year. Meanwhile, budget spending was 351.3 trillion VND or 23.4 percent of the estimate.
Credit growth reached 4.03 percent as compared with 1.47 percent last year. The number of newly-established enterprises and those resuming their operations hit a record of 60,000, tripling the figure recorded in the same period last year.
As much as 562.2 trillion VND worth of social investment was disbursed, up 8.9 percent. The disbursement of the capital sourced from the State budget was 76.3 trillion VND, equivalent to 14.4 percent of the yearly target and up 10.6 percent year-on-year. Meanwhile, 4.42 billion USD worth of foreign direct investment (FDI) was disbursed, up 7.8 percent, the highest level compared with the figures recorded in the first quarter of 2018.
Export-import activities have recovered strongly, hitting 66.73 billion USD in March, up 36.8 percent, of which export revenue rose by 45.5 percent. In the first quarter, the export-import value jumped 14.4 percent to 176.35 billion USD, with exports up 12.9 percent.
However, the Government noted a range of challenges like increasing inflation pressure and complex developments of high-tech crimes, Son said.
Therefore, Prime Minister Pham Minh Chinh asked ministries, agencies and localities to focus on maintaining macro-economic stability by all means and keeping a close watch on market developments at home and abroad to ensure major economic balance.
The PM also ordered accelerating the disbursement of public investment and official development assistance (ODA), and removing obstacles in investment institutions, mechanisms and policies, according to Son.