Discussion on socio-economic and mid-term reports

Prime Minister Pham Minh Chinh delivers the opening speech at the regular Government meeting in August 2023 - Photo: VGP/Nhat Bac

Also attending the meeting were Deputy Prime Ministers, members of the Government, leaders of ministries and agencies under the Government, Vice President Vo Thi Anh Xuan, Comrade Dinh Van An - Assistant to the General Secretary, leaders of agencies of the Party and the National Assembly.

According to the meeting agenda, the Government focused on discussing a number of main contents: Socio-economic situation in August and the first 8 months of 2023, implementation of the Socio-economic Recovery and Development Program, allocation and disbursement of public investment capital, implementation of 03 National Target Programs; reports on the implementation of the 2023 socio-economic development plan, the expected socio-economic development plan for 2024, mid-term assessment of the implementation of the 5-year socio-economic development plan (2021-2025); reports on the implementation of the public investment plan, implementation of the state budget in 2023, the expected public investment plan, the state budget estimate for 2024 and mid-term assessment of the medium-term public investment plan for the period 2021-2025.

Speaking at the opening of the meeting, Prime Minister Pham Minh Chinh stated that today's meeting is very important. Unlike other meetings, in addition to discussing the socio-economic situation in August and the first 8 months, key tasks and solutions for September and until the end of 2023, the Government also gave its opinions on important submissions and reports to the Politburo, the Central Committee and the National Assembly (including reports on the socio-economic situation, public investment, state budget in 2023, the 2024 plan; mid-term reports on the socio-economic development plan, medium-term public investment for the 5-year period 2021-2025).

The Prime Minister emphasized that we have passed 8 months - 2/3 of 2023 - in the context of the international and regional situation continuing to develop rapidly and complicatedly; difficulties and challenges continue to outweigh opportunities and advantages.

Minister, Head of the Government Office Tran Van Son reports at the meeting - Photo: VGP/Nhat Bac

The consequences of the COVID-19 pandemic are still lingering; strategic competition is increasing; the conflict in Ukraine is still complicated. The world economic situation continues to show a downward growth trend, inflation has slowed down but remains high, recovery is slow, both aggregate supply and aggregate demand are difficult. Many major markets in Vietnam are facing growth difficulties. Crude oil supply is shrinking, prices are rising. Climate change, extreme weather is evolving complicatedly, the El Nino phenomenon is causing record heat in many places and increasing the risk of food insecurity in many countries.

Domestically, the economy is subject to a "double impact" from unfavorable external factors (especially import-export markets, supply chains, investment, currency, finance, etc.) and the limitations and shortcomings that have existed for many years are more clearly revealed in difficulties. Meanwhile, our country is a developing country, a transitional economy, with high openness, modest scale, limited adaptability and resilience, so a small external fluctuation can have a large impact and influence internally.

In that context, under the leadership of the Party Central Committee, directly and regularly led by the Politburo and the Secretariat, headed by General Secretary Nguyen Phu Trong, the Government and all levels, sectors and localities have made outstanding efforts, focusing on perfecting institutions, mechanisms and policies; and resolutely, synchronously, and with a focus on key tasks and solutions.

Thanks to that, the macro economy continues to be stable, inflation is controlled, growth is promoted, major balances are ensured; public debt, government debt, foreign debt, and budget deficit are well controlled. Socio-political stability, national defense and security are maintained, integration and foreign relations are promoted and expanded with many exciting diplomatic events, many countries want to upgrade relations with Vietnam, the role, position, and prestige of the country are increasingly enhanced.

The Prime Minister asked delegates to discuss, analyze carefully, evaluate objectively, closely follow reality, analyze objective and subjective causes, lessons learned, identify and forecast the context and situation in the coming time - Photo: VGP/Nhat Bac

Overall, in 8 months, the results of each month are better than the previous month, each quarter is higher than the previous quarter; creating momentum to achieve higher results in the last months of the year.

However, there are still shortcomings, limitations, difficulties and problems related to the corporate bond market; the real estate market has improved but still faces difficulties; issues related to loss-making projects, weak banks; the leather, footwear and textile sectors have more orders but industrial growth is still facing difficulties; credit access is difficult, credit growth is low...

The Prime Minister requested delegates to discuss, analyze carefully, evaluate objectively, closely follow reality, analyze objective and subjective causes, lessons learned, identify and forecast the context and situation in the coming time, propose key tasks and solutions to better direct and manage in September, the remaining months of 2023 and the coming time, with the spirit that the results in 2023 must be higher than in 2022 as directed by General Secretary Nguyen Phu Trong.

The Government Electronic Information Portal will continue to update information about the meeting.

Source: https://baotainguyenmoitruong.vn/phien-hop-chinh-phu-thuong-ky-thang-8-thao-luan-ve-ktxh-va-cac-bao-cao-giua-ky-362967.html