Gov't envisages two development scenarios for 2020
16:10 | 18/05/2020
VGP - The Government has submitted two development scenarios for 2020 to the National Assembly after Viet Nam initially controls COVID-19 epidemic.  

In the first scenario, the GDP growth rate is estimated at 4.4-5.2% should Viet Nam controls the epidemic since the second half of April and its major trade partners could contain the epidemic in the third quarter this year.

In the second scenario, the GDP growth rate is projected at 3.6-4.4% if Viet Nam's major trade partners could control the epidemic in the fourth quarter this year.

The current COVID-19 crisis has generated unprecedentedly negative impacts on the national economy, thus adjustment of this year's goals is necessary, according to the Ministry of Planning and Investment.

In a bid to reboot the economy, Prime Minister Nguyen Xuan Phuc called for doubling efforts to achieve growth rate of over 5% and keep inflation under 4% in 2020 while addressing a meeting with businesses on May 9.

The Government chief ordered authorities at all levels to focus on luring investment from domestic economic sectors, firstly the private sector, and foreign direct investment, stepping up exports, promoting public capital disbursement, and encouraging domestic consumption.

He urged businesses, including the banking sector, to join hands in bolstering national development, saying the meeting must have concrete outcomes and reflect the spirit of removing difficulties faced by enterprises.

Authorities need to stop troubling businesses and citizens with red-tape and administrative procedure hassles, he requested./.

By Kim Anh

 

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