Another very important indicator and target that the Government is pursuing is the possibility of achieving the inflation control target set by the National Assembly for this year, based on the consumer price index (CPI) in the first 7 months of the year increasing by 4.12% compared to the same period last year. And up to this point, inflation is still under control.
Optimistic as it is, reality shows that behind those cheerful numbers are many potential challenges.
First of all, to achieve the growth target of 6.5% by the end of the year, Vietnam needs to face many problems: from difficulties in supplying raw materials for industrial production, supply chain disruptions, to fluctuations in the international market.
In the coming time, many solutions will be needed to control inflation in the context of global inflation showing signs of cooling down but still facing many uncertainties. Meanwhile, domestically, we are still under pressure from rising gasoline prices, increased demand for electricity, and changes in health insurance policies that have pushed up the prices of some goods and services, increasing the CPI in July.
With the positive foundation achieved in the first months of the year, Vietnam has every basis to expect a brighter economic picture in 2024.
However, to maintain this momentum and achieve higher growth, the last months of 2024 require us to make outstanding efforts with specific and wise solutions from the Government and ministries and branches to protect and promote growth momentum.
In particular, the necessary solution is to ensure that goods, especially strategic goods such as gasoline and oil, are supplied and circulated smoothly to maintain stable domestic prices.
In addition, monetary policy management also needs to be flexible and prudent, ensuring close coordination with other fiscal and macroeconomic policies.
Prices of goods and services managed by the State should not be adjusted in a massive manner, especially at the end of the year when consumer demand increases. This will help avoid expected inflation, which will put pressure on the economy in the following years.
In the context of a volatile global economy, the stability and growth of Vietnam's economy is a testament to the country's ability to adapt and develop sustainably.
Therefore, protecting and promoting the current economic growth momentum not only strengthens confidence in the recovery of the Vietnamese economy but also opens up many brighter opportunities in the future!
