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Not out of the woods yet
The economy in the first quarter continued to recover at a higher growth rate than in the same period last year, but was still fraught with considerable risks.
This remark was made at the 9th plenary session of the NA’s Economic Committee held in Ho Chi Minh City on April 26.
According to the Ministry of Planning and Investment, the value of industrial production in the first three months increased by 13.6 percent, construction volume by 17.4 percent, agriculture, forestry and aquaculture output by 5.8 percent and services by 6.6 percent.
However, many participants warned that the overspending of the state budget, the low value of exports and high cost of imports, have badly affected the balance of payments or foreign currency and foreign exchange reserves. Many forecasts are not correct, even completely unrealistic.
Some said that when reducing the interest rate, the State needs to strictly control prices and put in place proper mechanisms, as well as flexible solutions to help businesses cope with the soaring prices of essential industries such as electricity, water, oil and gas.
To achieve the three biggest goals of socio-economic development in 2010 such as preventing economic slowdown, stabilising the macro economy and guaranteeing social welfare, the government needs to come up with new, comprehensive and consistent policies.
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