Cabinet meeting discussed socio-economic developments for May

May’s Consumer Price Index (CPI) rose 0.16% against last month, according to the Ministry of Planning and Investment, while industrial production expanded at a fast pace of 9.2%, spurred on by the processing, manufacturing and electricity sectors.

However, the economy still saw difficulties as trade deficit tends to continue, while tourism has been down 13% yoy. Also, prolonged drought in the Central Highlands is affecting people’s lives and agricultural production.

Also this morning, Government discussed the policies to boost credit growth to support businesses in fishing industry and fishermen who tend to build offshore fishing vessels. Besides, plans to cope with drought in Central Highlands were be discussed.