Inflation is to be below 4.5% this year

Inflation is to be below 4.5% this year

The rate targeted under a Government Resolution issued on June 18.

According to a report from the Government News, the inflation rate will be kept under 4.5 per cent this year as a target set by Resolution No. 93/NQ-CP issued by the Government on June 18.

The target was based on the consumer price index in the first five months which increased by 4.03 per cent from the same period last year.

The Government also remains steadfast with the GDP growth goal of 6-6.5 per cent capped by the National Assembly.

To realize the above goals, the Government tasked ministries and agencies to renew the traditional growth drivers (investment, export and consumption), while promoting new growth engines such as regional connectivity, digital economy, green economy, circular economy, and innovation, along with emerging industries such as semiconductors and AI.

They were also tasked to promptly submit decrees guiding the implementation of new laws on land, housing, real estate business, and credit organizations.

The Government ordered that the construction of the Quang Trach-Pho Noi 500 kV power transmission line project must be completed before June 30.