Cabinet discusses economy

Prime Minister Nguyen Xuan Phuc chaired discussions, including a report on the socio-economic situation in the first nine months of 2016 and plans for 2017, a plan on economic restructuring for 2016-2020, a medium-term public investment plan and state budget-finance in the 2016-2020 period, and an action programme of the 2016-2021 government.

Minister of Planning and Investment Nguyen Chi Dung reported that the consumer price index in September rose 0.54% compared to the previous month and 3.14% against December, 2015. The gross domestic product grew 6.4% in the third quarter and 5.93% in the January-September period. Total export revenues were estimated at US$128.2 billion, generating a trade surplus of over US$2.7 billion.

The prime minister also stressed there would not be any increase in electricity price this year and the government would do its best to keep milk prices for under 6 year old children unchanged. This would help stabilise people's lives and keep inflation below 5%. Regarding to the compensation for fishermen in 4 central provinces, the prime minister said that the government had provided 140 million USD. However, he asked local authority to disburse this amount of money properly, so fishing communities could make long-term plans for alternative livelihoods. For the nation's socio-economic tasks in 2017, Prime Minister Nguyen Xuan Phuc requested government bodies to quickly draft plans for 2017. The first task is to keep the national budget increases at 3.5%.