Government leader calls for greater efforts to achieve annual targets

VOV.VN - Prime Minister Pham Minh Minh Chinh requested cabinet members use their vast experience to properly assess the situation and devise appropriate objectives, tasks, and solutions to successfully achieve the set goals by the end of the year.

Prime Minister Pham Minh Chinh chaired a regular monthly cabinet meeting on October 29 in order to to assess the socio-economic situation in October and the year so far.

As part of his speech, the cabinet leader reviewed that the situation over the past 10 months which has had many fluctuations compared to when yearly plan was devised, with many issues occurring that had not been fully anticipated.

The purpose of the meeting is to draw experience, set goals, and manage viewpoints from now until the end of the year in a bid to ensure the set targets are fulfilled according to the leadership spirit of the Central Committee and the Politburo on the country's socio-economic situation, PM Chinh stated.

According to a report issued by the the Ministry of Planning and Investment, in October the socio-economic situation showed positive signs in most fields with many bright spots, particularly through a stable macro-economy, controlled inflation, and the 10-month average consumer price index expanding by 2.89%.

Major balances were ensured, with the State budget revenue for nine months reaching 103.7% of the estimate, up 16.2%. Indeed, import-export turnover hit US$616 billion, up 14.1%, the trade surplus stood at US$9.4 billion, while October alone recorded a trade surplus of US$2.27 billion.

Food security was ensured and there was enough electricity, petrol, and labour supply to meet demand, with the number of employees working in industrial enterprises soaring by 0.8% on-month and by 10.2% over the same period from last year.

The monetary market actively adapted to the faster and stronger fluctuations occurring within the international market. The exchange rate was therefore managed appropriately to ensure the domestic foreign currency demand.

Industrial production continued to recover, with agriculture, forestry and fishery remaining stable and growing, while trade and services recorded rapid recovery in all aspects.

Furthermore, the total retail sales of goods and services maintained the trend of being higher than the previous month, rising to VND 4.65 million billion over a 10-month period , up 20.2% over the same period from last year and up 13.9% from the same period in 2019.

International visitors during the past 10 months of the year reached nearly 2.4 million arrivals, up 18.8 times on-year.

Disbursed FDI capital during the past 10 months reached US$17.45 billion, up 15.2%, thereby contributing to reducing pressure on the international balance of payments in the short term and increasing new production capacity moving forward.

Most notably, many unexpected issues were resolved in a timely and effective manner, while prudent and stable monetary policy management helped to ensure proactiveness, flexibility, synchronous work, and close co-ordination in harmony with the reasonable fiscal policy

All resources were mobilised in a bid to balance enough capital for important projects and works.

Greater attention was given to dealing with regular issues, especially on social security, culture, society, sports, foreign affairs, defence and security, thereby achieving many outstanding results.

Many international organisations continued to make positive assessments of the Vietnamese socio-economic situation and give an optimistic forecast of growth rates for this year and ahead to 2023, in which GDP growth forecasts for this year are mostly between 7.5% and 8.2%, the highest group in Southeast Asia.

Of the figures, the IMF, Standard Chartered Bank, HSBC, and Singapore Bank UOB forecast respective increases of 7%, 7.5%, 7.6%, and 8.2%.

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