tailieunhanh - Vietnam’s budget and finance in 2011 and orientations for 2012

Achievements of the 2011 budget and finance tasks have contributed a lot to inflation curb, macroeconomic stabilization, social welfare, hunger eradication and poverty alleviation. Yet the year 2012 might witness more difficulties, requiring us to be active and determined to fulfill budget and finance tasks in particular and socioeconomic targets in general in order to lay a solid foundation for the successful completion of the five-year plan (2011-2015) and the ten-year strategy (2011-2020). | 2 | Vương Đình Huệ Vietnam’s Budget and Finance in 2011 and Orientations for 2012 Vietnam’s Budget and Finance in 2011 and Orientations for 2012 VƯƠNG ĐÌNH HUỆ* ABSTRACT Achievements of the 2011 budget and finance tasks have contributed a lot to inflation curb, macroeconomic stabilization, social welfare, hunger eradication and poverty alleviation, etc. Yet the year 2012 might witness more difficulties, requiring us to be active and determined to fulfill budget and finance tasks in particular and socioeconomic targets in general in order to lay a solid foundation for the successful completion of the five-year plan (2011-2015) and the ten-year strategy (2011-2020). Keywords: Budget, finance, macroeconomic stability, social welfare 1. EVALUATING THE 2011 BUDGET AND FINANCE ACTIVITIES Implementation of the 2011 budget and finance tasks took place with a lot of hardships and challenges. Under the circumstance, the government, via Decree 02/NQ-CP dated Jan. 9, 2011 on implementation of socioeconomic development plan and the draft of national budget 2011 and Decree 11/NQ-CP dated Feb. 24, 2011 on measures to curb inflation, ensure macroeconomic stability and maintain social welfare, has identified vital administrative targets such as inflation control, macroeconomic stabilization, and social welfare, and simultaneously worked out action plans. Under the leadership of the VCP, the flexible and swift actions of the government, and the utmost attempts of the political system and all citizens, Vietnam’s economy step by step regained its health. Vital balances have been maintained; industrial productions and construction have been gradually recovered and on the rise; the service sector has also witnessed a continuous and fast growth; and the 2011 GDP growth was estimated at 6% while inflation rate at 18% and export turnover at (compared with the planned target of 10%). The socio-political situation was stable; social welfare was improved; and the decrease in poverty