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Source: Socialist Republic of Vietnam

The Party official made the remarks while chairing a meeting of the Hanoi Party Standing Committee on April 3 to review the city’s socio-economic development in the first quarter of this year and plans for the remaining quarters.

Hanoi posted economic growth of 3.72%, the lowest level over the past three years. Total export revenue in the three-month period also decreased by 18% compared to the same period last year.

However, budget revenue increased by 9.5% compared to the same period in 2019.

The Politburo member said that Hanoi should adjust its economic growth target to reach an economic expansion of 7.5% as set out in the first economic scenario or 6.42% as set out in the second.

He asked Hanoi to focus on promoting agriculture by restructuring crops and re-building pig herds towards an agricultural growth rate of at least 4.04% in 2020.

He also directed Hanoi to exert all effort in the fight against the pandemic while increasing spending on supporting enterprises, policy beneficiaries, and vulnerable people affected by it.

MIL OSI Asia Pacific News