Eurozone q1 gdp growth

The Government’s monthly meeting this morning, chaired by Prime Minister Nguyễn Xuân Phúc (standing), sets GDP growth for 2018 at 6.7 per cent, following the decade-high GDP growth of 7.38 per cent achieved in the first quarter. — VNA/VNS Photo Thống Nhất Viet Nam News HÀ NỘI — The decade-high GDP growth of 7.38 per cent achieved in the first quarter may not be easy to replicate for the rest of the year. The government, however, will strive towards a year-on-year growth rate of 6.7 per cent. Prime Minister Nguyễn Xuân Phúc said this during the monthly government meeting on Monday in Hà Nội. He asked the Cabinet to “contribute constructively” to the 2018 economic growth scenario to achieve this target, which is higher than the 6.5 per cent growth rate set by the National Assembly last year. The morning session was also amongst the rare ones, with socio-economic affairs, especially the development of growth scenarios, were discussed first instead of the usual … [Read more...] about 6.7% GDP growth targeted for 2018: Gov’ meeting

The Government projects GDP growth of 6.7 per cent in 2017 in a report submitted to the National Assembly Standing Committee on Thursday during the committee’s 15th session in Hà Nội. — VNA/VNS Photo Văn Điệp HÀ NỘI — The Government projects GDP growth of 6.7 per cent in 2017 in a report submitted to the National Assembly Standing Committee on Thursday during the committee’s 15th session in Hà Nội. But many legislators expressed doubt about the feasibility of that figure. According to the Government’s report, the macro-economy has stabilised while inflation remains below 4 per cent. The gross domestic product (GDP) is estimated at VNĐ5 quadrillion or nearly US$225 billion. Based on the socio-economic development plan for 2016-20 adopted by the legislature, the projected performance of the economy in 2017 and the domestic and international situation, the Government expects GDP to expand by 6.5-6.7 per cent in 2018. Many NA Standing Committee members expressed concern that gains … [Read more...] about Gov’t projects 6.7% GDP growth in 2017

A worker at a production chain of VNK International Polybags Joint Stock Company, northern Ninh Bình Province. — VNA/VNS Photo Danh Lam Viet Nam News HÀ NỘI – Prime Minister Nguyễn Xuân Phúc yesterday urged Government members to focus on increasing the gross domestic product (GDP) growth rate, which he said stood at a low rate of 5.1 per cent in the first quarter of the year. The country has targeted GDP growth of 6.7 per cent this year. The slowdown was blamed on poor performance of oil exploitation and manufacturing, Phúc said while addressing the regular Government meeting. While the agricultural and service sectors grew well, the industry and construction sectors suffered low growth, he added. The Government leader also noted that the disbursement of public investment capital was slow; reaching only 12.4 per cent of forecasts while the figure for the same period last year was 16 per cent. He also mentioned sluggish State-owned enterprises equitisation, traffic … [Read more...] about PM calls for action to increase GDP growth

The Hạ Long-Vân Đồn Highway, one of the key traffic routes in the coastal province of Quảng Ninh. At the Government’s regular meeting on Thursday, Prime Minister Nguyễn Xuân Phúc directed Government agencies to drastically make efforts to implement and supervise the implementation of the programme on reforming the growth model and increasing growth quality. — VNA/VNS Photo Viet Nam News HÀ NỘI – Prime Minister Nguyễn Xuân Phúc chaired the Government’s regular meeting on Thursday, during which he shared that Việt Nam’s GDP growth rate rose 7.08 per cent in 2018 – the highest rate for the past 11 years. The country enjoyed a trade surplus of over US$7 billion, he said, adding this is also the first time its economic growth rate has doubled that of inflation. Moreover, all socio-economic criteria for 2018 surpass the set targets, which is “good news for the nation,” he affirmed. At the meeting, Government members responded to the implementation of the Government’s Action … [Read more...] about GDP growth rate highest in 11 years

Vietnam’s GDP growth in Jan-Sep at nine-year high The Saigon Times Daily Employees work at an auto and motorcycle parts manufacturing plant in Thang Long 2 Industrial Park, Hung Yen Province. The processing-manufacturing industry is the major driver of Vietnam's economic growth in the Jan-Sep period of 2019 - PHOTO: VNA HCMC – Vietnam’s gross domestic product (GDP) in the year to September had expanded 6.98%, the highest rate for the nine-month period over the past nine years, even though local export activities encountered some obstacles this month, according to the General Statistics Office (GSO). Amid many uncertainties in the global economy, trade, politics and security, the local GDP growth still reached a nine-year high, GSO head Nguyen Bich Lam told a press briefing on the country’s nine-month socio-economic situation today, September 28. Besides the very positive growth rate, the macroeconomy remained stable, with inflation being controlled at the lowest … [Read more...] about Vietnam’s GDP growth in Jan-Sep at nine-year high

GDP growth in Jan-Sep at 10-year low The Saigon Times An employee working at a firm. Vietnam’s gross domestic product (GDP) between January and September expanded 2.12%, the lowest rate for the nine-month period over the past 10 years – PHOTO: VNA HCMC – Vietnam’s gross domestic product (GDP) between January and September expanded 2.12%, the lowest rate for the nine-month period over the past 10 years, according to the General Statistics Office (GSO). The coronavirus pandemic has slowed down the growth of most sectors in Vietnam. Besides, the interruption of international trade activities as a result of the impact of the health crisis has severely affected the country’s production, imports and exports, leading to a high rate of unemployment. Though the GDP growth stood at a 10-year low, the expansion was considered a success amid the efforts to prevent the spread of Covid-19, the disease caused by the coronavirus, and help the economy recover, GSO head Nguyen Thi … [Read more...] about GDP growth in Jan-Sep at 10-year low

Gov’t targets 2019 GDP growth at 6.8% By Thanh Thom A corner of Tan Cang-Cat Lai Terminal in HCMC. The Government is set to boost export turnover by 8%-10% this year – PHOTO: THANH HOA HCMC – The Government is aiming for a softer gross domestic product (GDP) growth rate of 6.8% this year and an inflation ratio of less than 4%, according to a new resolution on key tasks and measures to execute the socioeconomic development plan and the State budget estimates for 2019. In 2018, the country achieved a ten-year-high GDP growth rate of 7.08%. Under the Government’s Resolution No.1 of 2019, the all-year plan targets stabilizing the macroeconomy; curbing inflation; raising the productivity, quality, efficiency, self-reliance and competitiveness of the economy; improving the investment and business environment; and promoting economic growth. More radical changes should be made while ensuring strategic breakthroughs and restructuring the economy, aligned with growth mode … [Read more...] about Gov’t targets 2019 GDP growth at 6.8%

A worker operating the Hàm Rồng-Thái Bình mine gas distribution and collection system in the northern province of Thái Bình. — VNA/VNS Photo Thế Duyệt Viet Nam News HÀ NỘI — Well-crafted policies have increased the national economy’s ability to adapt to global economic shifts, especially against the looming prospects of a trade war and international financial and monetary risks, Prime Minister Nguyễn Xuân Phúc said. The Vietnamese Government leader made the remarks as he was delivering a report on socio-economic progress in 2018, the Government’s plans for 2019, as well as the mid-term assessment of the five-year programme (2016-20 period) in front of the 6th sitting of the 14th National Assembly (NA) that commenced on Monday. According to the report, GDP growth reached 6.98 per cent in the first nine months of 2018 with the year-end figure reaching an estimated 6.7 per cent, higher than the target assigned by the parliament. Import-export turnover reached US$352 billion, … [Read more...] about Việt Nam holds its own against external trade threats, achieves 6.7% GDP growth

Deputies for increasing quality of GDP growth (23-10-2006) HA NOI — Legislators at the National Assembly’s plenary session on Saturday voiced the need to further improve the quality of national economic growth while debating the socio-economic performance in 2006 and orientations for 2007. At the session, chaired by NA’s Deputy Chairman Truong Quang Duoc, many deputies expressed concern on the issue of expenditure surpassing the State budget plan in the past. According to the Government report, while this year’s budget spending had increased by 7.2 per cent over the budget estimate, the revenue growth rate had gone up by only 6.2 per cent. Deputies from Ba Ria-Vung Tau, Can Tho and Lao Cai said the management efficiency in State budget spending was low, financial discipline had not been achieved and investment in rural areas insufficient. Regarding this year’s target of extracting 18 million tonnes of oil, deputy Pham Quang Du from Ba Ria-Vung Tau Province said it was … [Read more...] about Deputies for increasing quality of GDP growth

StanChart projects Vietnam’s GDP growth at 6.9% until 2021 The Saigon Times Daily Speakers at the Panel Discussion at the annual Global Research Briefing seminar hosted by Standard Chartered Bank Vietnam on September 23 in HCMC - PHOTO: STANDARD CHARTERED BANK VIETNAM HCMC – Vietnam is believed to be an ASEAN outperformer this year, with GDP growth projected at 6.9%. This rate is expected to sustain through 2021. The recent broadbased 25 basis-point rate cut by the State Bank of Vietnam is seen as pre-emptive signaling, given the country’s dependence on global demand to support its export-driven growth. The forecast was released at the annual Global Research Briefing seminar hosted by Standard Chartered Bank Vietnam on September 23 in HCMC, which gathered 150 representatives of local and foreign firms to join discussions on trade tensions and the likely implications for rates and foreign exchange markets until 2020, as well as cutting-edge insights into the latest … [Read more...] about StanChart projects Vietnam’s GDP growth at 6.9% until 2021