In late June,Director General of the General Statistics Office Do Thuc reportedpositive signs in the national economy in the January-June period, withGDP growth rate registering a quarter-on-quarter increase, while theconsumer price index inched up a mere 2.4 percent against December 2012,laying a solid foundation to keep inflation below 8 percent this year.
The trade deficit stood at 1.4 billion USD, equivalent to 2.3 percent of exports.
Head of the Industrial Statistics Department Pham Hong Thuy saidthough the industrial production index increased by only 5.2 percent inthe first half of this year, far lower than the 9.7 percent and 8.9percent in the same period of 2011 and 2010 respectively, it is a fairlypositive sign in the current situation. In addition, the industrialsales index for the manufacturing and processing sector rose 7.5 percentfrom the same period last year, bringing inventories index to singledigit.
Nevertheless, with the 4.9 percent GDP growth in thefirst half of the year, the country must achieve a growth rate of atleast 6 percent in the second half in order to fulfil the goal of 5.5percent set by the National Assembly. This is expected to be a verytough task.
The UN Economic and Social Council forecastthat the world economy could only pick up since 2014. The situation isthe same in Vietnam , when the essential goal is to controlinflation, stabilize macro-economy and strive for a suitable growthrate.
According to analysts, Vietnam is likely to record aneconomic growth rate of 5.1 – 5.2 percent this year, lower than the 5.5percent target. However, what is important is the stability of theeconomy, laying the foundation for a sustainable economic developmentover the long haul, not the growth rate, they said.
GSOexperts said any economic stimulation move is not necessary at thistime. Instead, the Government should seek ways to mobilise socialinvestment and drastically shift the growth model away from capital andlabour-intensive industries to the sustainable knowledge-based model,and restructure the entire economy.-VNA