The Politburo requested to continue with key fiscal policies, focusing on supporting people and businesses to reduce cost pressure and promote production.
On the morning of July 21, General Secretary Nguyen Phu Trong chaired a meeting of the Politburo and the Secretariat to report on the socio-economic situation in the first 6 months of the year and tasks and solutions for the last 6 months of 2023.
After listening to the Government Party Committee's report and opinions from agencies, the Politburo requested that in the last 6 months of the year, agencies must have proactive, flexible, timely and effective monetary policies; closely coordinate with fiscal and business policies, increase access to capital, and create growth momentum.
Agencies must complete and effectively implement solutions to support businesses and people in recovering and developing production and business, and promoting growth momentum.
General Secretary Nguyen Phu Trong chaired a meeting of the Politburo and Secretariat on the morning of July 21. Photo: VNA
The Politburo emphasized the continued consistency in the goal of maintaining macroeconomic stability, controlling inflation, promoting growth and ensuring major balances of the economy. The world and domestic situation needs to be accurately forecasted to promptly respond to policy developments. Decentralization and delegation of power need to be promoted, combined with appropriate resource allocation and increased inspection and supervision.
Public investment capital needs to be promoted for disbursement. The market for corporate bonds, real estate, bank credit, securities, and science and technology operates safely and sustainably. The supply of gasoline, oil, and electricity for production and consumption is guaranteed. Domestic production and consumption is promoted along with diversified markets and export products.
"Focus on quickly and effectively handling problems related to value-added tax refunds, medicines, medical supplies, regulations on petroleum trading, and fire prevention and fighting," the Politburo directed.
The Politburo noted the development of new growth drivers for the economy, maximizing external support resources to promote innovation, develop the digital economy, digital transformation, promote national digital infrastructure; and perfect the legal framework for developing the carbon credit market.
Agencies also need to do a better job of ensuring stable lives for people, especially unemployed workers; and thoroughly resolve the problem of local teacher surplus and shortage.
The Politburo and the Secretariat gave their opinions on the Report on the socio-economic situation in the first 6 months of the year, tasks and solutions for the last 6 months of 2023. Photo: VNA
According to the Politburo, the fight against corruption and group interests will continue to be further promoted, especially speeding up the investigation and handling of cases put under surveillance by the Central Steering Committee on Anti-Corruption and Negativity.
"Strengthen policy communication, contribute to promoting the spirit of national solidarity, consolidate trust, and maintain the psychology of the market, businesses, and investors," the Politburo directed.
Previously, the Politburo and Secretariat assessed that in the first half of 2023, the macro economy was stable; inflation was controlled; major balances were ensured; public debt, government debt, and budget deficit were well controlled; economic growth in the first 6 months reached 3.72%.
However, due to the world economy facing many difficulties, slow recovery of global trade and some domestic restrictions, growth has not reached the target. The industrial and construction sectors have low growth. Production and business in many sectors have decreased.
In addition, administrative procedures in some areas are cumbersome. Some officials are afraid of responsibility, afraid of making mistakes, shirk responsibility, and avoid solving work within their authority. Some legal regulations are not consistent, overlapping, and decentralization is still problematic. The shortage of electricity, medicine, and medical supplies has not been completely resolved. Labor, employment in some localities, areas, and the lives of some people still face difficulties.
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