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Tuesday, May 24 2022
Tiếng Việt
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Date 27/07/2016-10:50:00 AM
Report on socio-economic situation of June and the first half 2016

1. Macroeconomic stability

- Consumer price index: CPI of June rose by 0.46% over the last month, by 2.35% over December 2015 and by 2.4% as compared to the same period last year. Average CPI of the first half 2016 increased by 1.72%, average basic inflation of the first half by 1.8% as compared to the same period last year.

- Monetary & credit: As of June 20th 2016, total means of payment was estimated to rise by 8.07% over December 2015, total deposit of customers in credit institutions by 8.23%, total credit of the economy by 6.2%, equivalent to the increase of the same period last year.

Exchange rate fluctuated in allowed amplitude. Rate of VND/USD at commercial banks raised slightly in recent days mainly due to psychological factor from the British people to vote to leave the EU. Interest rate of deposit and lending in VND and USD was relatively stable. Banks adjusted to decline deposit rate in VND recently.

- State budget revenue and expenditure: In the first half 2016, total state budget revenue was 476.8 thousand billion dong, equaling 47% of the yearly estimate, up 6.1% as compared to the same period 2015; total state budget expenditure was estimated at 562.5 thousand billion dong, equivalent to 44.2% of the yearly estimate, up 4.9% as compared to the same period 2015.

- Development investment: Total social investment capital of the first half 2016 was 618.2 thousand billion dong, equaling 32.9% of GDP and up 11.7% as compared to the same period last year, in which:

Capital of state sector was 229.3 thousand billion dong, capturing 37.1% of total social investment capital and up 6.5% as compared to the same period last year.

Total realized FDI capital was estimated at US$ 7.25 billion, up 15.1% as compared to the same period last year. Total registered FDI capital was estimated at US$ 11.28 billion, up 2 times as compared to the same period last year.

Disbursement of ODA and preferential loans in the first half of the year was estimated at US$ 1,850 million.

2. Economic growth

- Economic growth: GDP growth of the second quarter was estimated at 5.55%, higher than the increase of 5.48% of the first quarter. Generally, in the first half 2016, GDP growth was 5.52%, in which: agriculture, forestry, fishery was estimated to decrease 0.18%; industry and construction to increase 7.12%; services to rise 6.35%.

- Industrial production: IIP of June increased by 1.1% over the last month and by 7.4% over June 2015. Generally, in the first half 2016, IIP rose 7.5% as compared to the same period last year.

Inventory of processing and manufacturing maintained at low level as compared to the same period last year. That index at June 1st 2016 increased by 9% as compared to the same time in 2015 (which was by 11.8%).

- Agricultural, forestry and fishery production: Harmful cold and frozen, drought, saline intrusion… caused the decrease of AFF output. Value of AFF production of the first half of this year was estimated to decline by 0.08% as compared to the same period last year, including the decrease of 0.73% of agriculture, the increase of 5.83% of forestry and 1.33% of fishery.

Harvest of winter spring rice: Productivity of winter spring rice of Northern provinces was estimated at 62.6 quinta per hectare, up about 0.5 quinta per hectare (equivalent to the increase of 0.8%), its output at 7.22 million tons, slightly increase as compared to the same crop last year.

Southern provinces basically harvested winter spring rice with the area of 1,926.6 thousand hectares, down 23.9 thousand hectares (equivalent to the decrease of 1.2%); productivity was 63 quinta per hectare, down 6.1 quinta per hectare (equivalent to the decrease of 8.8%); output was estimated at 12.15 million tons, down 1.34 million tons (equivalent to the decrease of 9.9%) as compared to the same crop last year.

Cultivation of summer autumn rice: As of June 15th 2016, as much as 1.82 million hectares of the rice was cultivated, equaling 98.1% of the same period last year; in which: Mekong river Delta provinces cultivated 1.52 million hectares, up 2.9% comparing to the same period last year.

Aquaculture and fishery: drought, saline intrusion and marine environmental pollution impacted on farming and fishing. In the first half 2016, total fishery output was estimated at 3.13 million tons, up 1.9% as compared to the same period last year; including the increase of 0.7% of farming and 3.2% of fishing.

- Services: This is the unique sector having the higher growth than that of the first half 2015. Total retailed sales of consumer goods and services of the first half 2016 increased by 9.5% as compared to the same period last year; if excluding the price change factor, it by 7.5%. International visitors to Vietnam in the first half were estimated at over 4.7 million arrivals, up 21.3% as compared to the same period last year.

- Export and import: In the first half 2016, total export turnover was estimated at over US$ 82.24 billion, up 5.9% as compared to the same period last year; Total import turnover at US$ 80.7 billion, down 0.5%; Trade surplus was approximately US$ 1.54 billion, equaling 1.9% of total export turnover.

- Enterprise development: In the first half 2016, there were 54,501 newly established enterprises with total registered capital of 427,762 billion dong, increasing by 20% of enterprises’ number and 51.5% of registered capital. Average registered capital of an enterprise was 7.8 billion dong, up 26.2% as compared to the same period last year. As much as 14,902 decommissioned enterprises backed to business, up 75.2% as compared to the same period last year.

- Equitization and divestment of SOEs: As of June 28th 2016, as much as 38 SOEs and 2 public non-business organizations were equitized. Equitization Steering Committee of 63 SOEs was established; 77 SOEs have been evaluating and 28 SOEs were announced their values.

3. Education – training, science – technology, social welfares, health, culture and other social fields were paid attention to implement. Ministry of Education and Training in coordination with localities prepared for National High School Examination 2016, created the most favorable conditions for examinees.

Natural Resources and Environment Sector has been promptly improving legal system, mechanism, policies and timely resolving issues on natural resources management, environmental protection and coping with climate change following the steering of the Government and the Prime Minister.

In the first half 2016, as much as 762 jobs were estimated to be created, achieving 47.6% of the plan and equaling 96.7% as compared to the same period 2015; in which labor export was 54 thousand people, equivalent to 96.3% as compared to the same period 2015. Minimum wage of employee has been raised since January 1st 2016 and base salary of officials, civil servants, armed forces has been raised since May 1st 2016 in accordance with the roadmap, contributing to relieving difficulties and improving life of employees.

Social welfares and benefit were paid attention and achieved positive results. Many supportive measures resolving a part of difficulties for people in areas under natural disaster, drought, saline intrusion, marine environmental pollution were carried out, such as providing rice from the state reserve, water and other necessary goods.

Traffic safety: in the first half of the year (from December 16th 2015 to June 15th 2016), as much as 10,227 traffic accident cases were occurred nationwide, killing 4,362 people, injuring 8,939 people. As compared to the same period last year, number of traffic accidents reduced by 8.52%, death toll by 2.59%, injury by 11.95%.

Environmental protection and fire prevention: in the first half 2016, as much as 7,079 cases violating regulations on environmental protection were discovered nationwide, including 2,501 cases punished with total fine of over 391 billion dong. As much as 1,826 fire and explosion cases were occurred, killing 46 people and injuring 191 people, damage estimated about 860 billion dong.

General assessments

Achievements: In the first half 2016, although international and domestic economic situation had much changes, especially the negative impact of countinuous natural disasters on the economy, under the determined direction of the Government, the Prime Minister, with the efforts of all levels, branches, enterprises and people in implementation of resolutions of the National Assembly, Resolution No. 01/NQ-CP dated January 07th 2016 and Resolutions of the Government’s regular meetings, socio-economic situation continued changing and gained positive outcomes. Macro economy was basically stable, inflation was curbed. Interest rate was relatively stable, loan interest rate tended to decrease; exchange rate and foreign exchange market was stable. FDI attraction increased higher than last year, enterprise development changed significantly because of the effect of Law on enterprises, Law on Investment (revised) and Resolutions of the Government on improvement of business, investment climate. Growth of services, construction, processing and manufacturing in the second quarter increased as compared to the first quarter, generally in the first half 2016, their growth was 10.1% higher than the same period last year because of the growth of social investment and FDI capital. Labor, employment, social welfares, benefit and other social fields were paid attention and achieved some outcomes. Political security and social order were maintained. Foreign affairs gain some good results.

Difficulties and challenges: Socio-economic situation in the beginning of the year remained difficult with many challenges. Economic recovery was slow, GDP growth of the first half 2016 was lower than the same period last year; in which, agricultural, forestry and fishery growth was negative and leaved serve consequences for the next seasons. Growth of mining was negative because of decrease of oil price to low level. Inflation was curbed but hidden risk of rising. The growth rate of export turnover was lower than the goal set forth and the growth of the same period last year. Dumping of waste in industrial complexes, zones, villages has not been strictly controlled, caused environmental pollution in many localities. Violations of food hygiene safety, use of banned sustances in animal husbandry and cultivation occurred quite widely for a long time but repaired slowly. Traffic accident in the first half 2016 decreased comparing to the same period last year, but particularly in June both injury and death toll rose highly. Forestry damage was still high because of fire and deforestation. People’s life in the areas under natural disasters, drought, saline intrusion, environmental pollution and far reaching faced many difficulties./.


Attach Files:
PL.T06._2016.xlsx

Ministry of Planning and Investment

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