Seminar discusses macroeconomics of first quarter

Wednesday, 2018-04-11 10:38:52
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At the event
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NDO – The Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment have organised a seminar on the institute’s macroeconomic report in the first quarter in Hanoi on April 11.

At the seminar, Vice Director of the CIEM’s Macroeconomy Department, Nguyen Anh Duong, briefed the group on the main points of the report in terms of growth, construction, industry, inflation, credit, the exchange rate, foreign direct investment (FDI), and imports and exports.

Accordingly, economic growth for the first quarter of 2018 has exceeded its expected potential (GDP growth rate in the first quarter of 2018 reached 7.4%, up 2.2% compared to 2017).

However, Consumer credit increased slowly, as the credit structure shifted to support production investment (medium-long term credit increased by 4.3%), and some import sectors decreased.

In order to create the prerequisites for development in the coming time, experts advise that the State should focus on maintaining macroeconomic stability; harmonization of the requirement on increasing prices of goods and services with increasing productivity and quality of supply; and researching, planning, and communicating on the adjustment to regional minimum wages in 2019.