The economy has picked up in recent months and the government will try to balance its goals of controlling inflation and maintaining stable economic growth this year,the deputy prime minister said Friday.
Based on major indicators, including industrial output, retail sales, and imports and exports, the economy "has already passed its toughest period," Deputy PM Nguyen Xuan Phuc told legislators at a National Assembly meeting in Hanoi.
Phuc said the economy is expected to expand by 4.5 percent year-on-year in the second quarter, compared to 4.0 percent in the first quarter. New companies established in May also outnumbered business closures, he added.
The inventory index also fell from 30.9 percent at the end of March to 24.9 percent in May, he said.
The government will not "sacrifice" its growth and inflation targets, Phuc said.
Responding to questions on the management of state-owned enterprises, he said the government and concerned agencies will take responsibility if there are losses in state assets.
The government will also introduce a new procedure to improve the supervision of SOEs, he said.
Like us on Facebook and scroll down to share your comment