Under the direct and regular leadership of the Party, the Politburo, and the Secretariat; the companionship of the National Assembly; the drastic, close, and timely direction and management of the Government and the Prime Minister; the efforts of ministries, sectors, localities; the support of businesses and people; and the help of international friends, the socio-economic situation of Vietnam in the first six months of 2024 showed positive recovery, achieving many important results, better than the same period in 2023 in most fields.
The macroeconomy continued to be stable, inflation was kept under control, major balances of the economy and social security were guaranteed, and salary increases were implemented according to the roadmap. Overall, GDP growth recovered strongly for the first six months, much higher than the same period in 2023.
Regarding the monetary market, the basic exchange remained rate stable; State budget revenue reached 60% of the estimate; and public debt, government debt, national foreign debt, and state budget overspending were within allowable limits. The main industries and sectors of the economy all grew well. People's lives continued to be improved.
Defence and security have been maintained; social order and safety has been guaranteed. Foreign affairs and international integration have been implemented proactively and effectively; Vietnam’s prestige and position in the international arena have continued to be enhanced.
However, the socio-economic situation of Vietnam still faced many difficulties and challenges. The world and regional situation continued to evolve in a rapid, complicated, and unpredictable manner; geopolitical tensions and competition with major countries are increasing; the recovery of major trading partners is still slow; world USD interest rates are anchored at high levels; there are risks of disruption to the supply chain and global production chain demand; and so on.
Domestically, the economy has opportunities and advantages mixed with more difficulties and challenges; inflationary pressure and exchange rates are tending to increase; financial and monetary markets still have potential risks; production and business activities in some fields are still difficult; natural disasters, droughts, landslides, and climate change are complicated, etc.
Faced with this situation, in order to successfully implement the goals and targets of the 2024 Socio-Economic Development Plan and at the same time turn grief at the passing of General Secretary Nguyen Phu Trong into action, the Prime Minister requested ministers, heads of ministerial-level agencies, government agencies, and chairpersons of People’s Committees of provinces and centrally-run cities, based on their functions, tasks, and powers, to drastically and effectively implement the Resolutions and Conclusions of the Central Committee, the Politburo, the National Assembly, the Government, and the Prime Minister, especially the tasks and solutions stated in Resolution No.93/ NQ-CP, dated June 18, 2024, and Resolution No. 108/NQ-CP, dated July 10, 2024.
