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Deputy PM demands appropriate moves be made to avoid economic shocks

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.
Deputy PM demands appropriate moves be made to avoid economic shocks ảnh 1Vietnam posted an economic growth rate of 6.42% in the first half of 2022. (Photo: VNA)
Hanoi (VNA) – Deputy PrimeMinister Le Minh Khai requested appropriate measures be taken to guaranteemacro-economic stability and control inflation to avoid economic shocks while maintainingnormal production and business activities and ensuring people’s jobs andincome.

Addressing a teleconferenceon 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 firsthalf of 2022, compared to 5.74% in the same period last year, with the second-quarterpace of 7.72% being the fastest since 2011.

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

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

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

Khai applauded the financialsector’s contributions to those accomplishments, saying not so many fiscalpolicies have been carried out like during the COVID-19 pandemic and H1 thisyear, helping tackle difficulties facing businesses and people and facilitatesocio-economic recovery and development.

Pointing out challenges to theeconomy, he asked the sector not to rest on its laurels but keep a close watch onthe situation and make timely response to fast changes in order to surpass developmenttargets for 2022, including an economic growth rate of 6.5%, inflation keptunder 4%, and macro-economic stability maintained./.
VNA
#macro-economic stability#inflation#GDP growth#consumer price index#CPI#long-term sovereign credit rating#economic growth#updated Vietnam news#Vietnamplus#Vietnam News Agency
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