Conference kicks off 2012 socio-economic tasks

Prime Minister Nguyen Tan Dung chaired a meeting on the implementation of socio-economic development tasks and the State budget in 2012 as set by the National Assembly in Hanoi on Dec. 22 and 23.

PM Dung said in 2012, the Government will continue to give priority to controlling inflation, stabilising the macro-economy and maintaining suitable growth combined with renewing the growth model and restructuring the economy.

Major targets for 2012 include a GDP growth of 6-6.5 percent and an inflation rate under 10 percent. The country will also try to increase export value by 13 percent and keep the State budget deficit under 4.8 percent of GDP.

The Government will focus all resources on restructuring the economy and renovating growth model and invest in improving human resource quality and speeding up scientific and technological application.

Measures will be taken to ensure social welfare and sustainable poverty reduction, improve the quality of health care services, strengthen natural disaster prevention, environmental protection and climate change adaptation.

Also at the conference, Minister of Planning and Investment Bui Quang Vinh reported that the country’s consumer price index (CPI) in December rose 0.53 percent against last month, representing a year-on-year increase of 18.12 percent.

Total export value for 2011 is estimated to reach 96 billion USD, a year-on-year increase of 33 percent and import value at 106 billion USD. GDP growth is estimated at 5.9 percent compared with 6.8 percent in 2010./.