Wednesday , June 16 2021

The Congress decided that GDP growth in 2019 would not exceed 6.8%, CPI 4%

Congress unanimously sets macro targets for 2019.

Congress unanimously sets macro targets for 2019.

According to the resolution, the overall objective of the next year is to further improve macroeconomic stability, inflation control, productivity, quality, efficiency, independence and competitiveness. economy.

Thus, the National Assembly will set the target for gross domestic product (GDP) by 2016 to increase by 6.6-6.8%; Consumer Price Growth (CPI) of about 4%; total export turnover increased by 7-8%; total trade deficit compared to total exports by less than 3%; The development capital of the whole society is about 33-34% of GDP.

Vu Hong Thanh, chairman of the Committee on Economic and Monetary Affairs, presented the report on the report, according to the GDP growth target of 6.8-7%, other ideas should be 6.5-6.7% from 2018.

The Standing Committee of the National Assembly stated that GDP growth target for 2019 was calculated on the basis of the estimated gross domestic product of 2018 and exceeded 6.7%. According to the economic forecasts and major equilibrium, as well as by some international organizations, the government announces to the National Assembly that GDP growth will be 6.6 to 6.8 percent in 2019. prudence and harmony to further defeat growth and inflation will provide the basis for macroeconomic stability and social problems, Thanh said.

For the Consumer Price Index, the report explained that some suggestions suggested that the CPI of less than 4%, which is less than 4.1%, is not "about 4%".

According to the Standing Committee of the National Assembly, many forecasts suggest that inflationary pressures will increase. Crude oil prices are on the rise, exchange rates, interest rates and financial market risks, international currencies are rising, trade disputes in some countries. In the meantime, a roadmap for the correctness of electricity prices, an adequate market mechanism, training services, health care and wage increases will continue to be implemented.

Consequently, the target of 4% growth in consumer prices is appropriate, ensuring prudence in curbing inflation, but not excessive monetary tightening, which contributes to the simultaneous implementation of a stable permanent target. Macroeconomics and growth stimulation. It should be noted, however, that the Government of the GoV countries has granted a five-year socio-economic development plan for 2016-2020 Resolution 142/2016 / QH13 to curb inflation by 3% by 2020. .

With regard to the key tasks and solutions of 2019, the National Assembly has called for a focus on capacity building, initiative, analysis, forecasting and monitoring of the international and domestic situation so that it can take initiatives to implement the policy. appropriate and timely. Practicing monetary policy actively, flexibly and cautiously in a coordinated manner with fiscal policy and other macroeconomic policies to stabilize macroeconomic and inflationary pressures.

The resolution also requires interest rate management, flexible exchange rates in accordance with market development and management requirements. Adaptation of public service prices should be in line with the appropriate roadmap to avoid adverse impacts on the CPI.

The resolution also emphasizes the objective of institutional reform as a major breakthrough, focusing on refining and complementing the mechanisms and policies that will lead to stronger changes, particularly in the field of technology application. high. Infrastructure systems, in particular the communication and information system, are developed comprehensively.

Promote business development, create large companies with high efficiency and competitiveness. Attracting selective foreign investment will give priority to the use of high tech and environmentally friendly products together with the development of domestic business support platforms.

The delegation asks to strengthen revenue control of the state budget, dramatic efforts to combat losses, transfers, tax evasion, payment of debts and the execution of electronic invoices. It saves state budget expenditures thoroughly on development investments. Continue to restructure public investment, improve capital efficiency, monitor public debt indicators, sovereign debt and the country's foreign debt.

Promote sales, pave the way for state-owned businesses, ensure publicity and transparency, and improve the quality of corporate investment and enterprise production. Promote the operation, responsibility and efficiency of the State Capital Management Committee in the company. A central solution for managing project losses.

At the same time, we must focus on the next year to continue the capital market, the money market, the real estate market and healthy. The rapid establishment of financial centers for large urban areas; Continue the implementation and close monitoring of credit institution restructuring with the handling of bad debts and increase cross-border ownership and cross-border investment between commercial banks and companies.

Phuong Dung

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