Ha Noi enjoys strong economic growth

The capital city has recorded an 9.2 per cent increase in economic growth in the first quarter compared to the same period last year, the municipal People's Committee reported Tuesday.

Despite many difficulties, the city's budget revenue increased by 4.2 per cent.

However, the Consumer Price Index (CPI) for March increased by 2.41 per cent over February, and by 6.18 per cent over last December, the highest levels for several years.

The city has taken measures to implement the Government's resolutions on inflation control, macro-economic stabilisation and social welfare promotion.

Ha Noi Party Committee Secretary Pham Quang Nghi said the city offered soft loans for rural and agricultural production and export activities.

He said the city had to apply measures to increase budget revenue and reduce public expenditure as well as consider State-funded projects which were of low feasibility.

So far, the city has saved VND368 billion (US$17.1 million) by cutting 10 per cent of public expenditure.

After checking on feasibility, districts have proposed to delay 114 projects with total investment capital of VND1.15 trillion ($53.4 million).

Nghi asked city authorities to continue promoting administrative reform that help investment and production.

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