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Government needs to reinforce macro-economic stability

Update: July, 03/2019 - 08:53

 

Processing shrimp for export at the factory of Minh Phú Hậu Giang Seafood Joint Stock Company in Hau Giang Province. VNA/VNS Photo Vũ Sinh

HÀ NỘI – The Government should enhance macro-economy stability to strengthen the national economy before risks appear, said members of the National Financial and Monetary Policy Advisory Council at a meeting yesterday.

The meeting, chaired by Deputy Prime Minister Vương Đình Huệ, pooled opinions ahead of the Government’s meeting with localities tomorrow.

In the first half of this year, the country posted a GDP growth rate of 6.76 per cent, ran a trade surplus of US$1.64 billion and faced inflation of 2.64 per cent.

State budget collection met 53 per cent of the plan for the full year, public debts accounted for 57-58 per cent of GDP and Government debts made up 49 per cent of GDP.

The council’s members agreed that signs of macro-economic risks are yet to appear, but pointed out that growth-driven sectors, like agriculture, industry and services, had slower growth rates than in 2018.

Members suggested the Government continue closely following trade and investment developments around the world to stabilise the economy while reinforcing internal elements to deal with external developments, facilitating trade and preventing trade fraud.

The Government and the State Bank of Việt Nam need to pay attention to potential impacts of new virtual currencies on the country’s fiscal and monetary policies, they said, urging the quick issuance of legal regulations on cashless payment and the fine-tuning of the legal system on investment, businesses and public-private partnerships. VNS

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