A woman shops in a supermarket in District 3, Ho Chi Minh City, July 11, 2021. Photo by VnExpress / Quynh Tran
The government is targeting GDP growth of 6 to 6.5% in 2022 despite the likely challenges the Covid-19 pandemic could pose.
At a meeting of the Standing Committee of the National Assembly on Tuesday, Planning and Investment Minister Nguyen Chi Dung listed the 16 main objectives of the socio-economic development plan for next year, which includes also control of inflation and the budget deficit to 4%.
Despite the severe impacts of the global pandemic on health, economy and society, the economy has remained stable this year, he said.
The economy grew 5.64% year-on-year in the first half of the year, but contracted 6.17% in the third quarter as the fourth wave of Covid raged, resulting in growth of 1, 42% for the first nine months, he said. .
He warned that the economy still faces potential risks such as soaring prices and falling exports.
There is disruption of some production and supply chains as the distribution of goods faces bottlenecks in some places, he said.
The growth target this year is 3 to 3.5% depending on the pace of reopening, but it would be difficult to achieve, he admitted.
Saying that 2020-2021 is the most difficult time in the country, NA vice president Nguyen Khac Dinh said there was a need for bigger stimulus packages and drastic measures to restore the economy, boost consumer demand and investment, and support people and businesses.
He stressed the need to coordinate fiscal and monetary policies, administrative reform and digital transformation.
The committee will submit the plan to the National Assembly for approval during the session that begins on October 20.
