The government is prioritizing prevention and suppression of economic sacrifices to ensure the lives and health of the people, but the economy continues to maintain growth, even at the lowest level in 10 years until now on.
On March 27, the General Statistics Office released data on socio-economic situation in the first quarter of 2020. GDP growth in the first quarter stood at only 3.82%. In general growth, agriculture, forestry and fishery increased by 0.08%; industry and construction increased by 5.15% and the service sector increased by 3.2%.
Most of the economic indicators have decreased compared to the same period last year, the main cause of Covid-19 epidemic is spreading strongly worldwide and domestically.
Lower indicators than last year show that the domestic economy has been greatly affected. However, General Director of the General Statistics Office Nguyen Bich Lam said, although the Government is prioritizing prevention and suppression, sacrificing economic benefits to ensure the lives and health of the people, “the foundation Basically The economy still maintains growth, does not fall into negative. Growth. “It is a positive sign.
He also emphasized adjusting the growth scenarios according to the impact of the COVID-19 epidemic. There are currently two options: Scenario 1 moves to the end of the second quarter, successfully terminates, returns to normal operation, and grows above 5%. Scenario 2 of the epidemic lasted into the third quarter, increasing by 5%.
He said it was difficult to achieve 6.8% for the whole year, because the openness of the economy was huge, more than 200%, highly dependent on the outside, while countries Partner closed or trade restrictions.
However, in the difficulties of the epidemic, it is still possible to find opportunities for change and development, as evidenced by a number of industries such as insurance and media that tend to increase significantly. COVID-19 epidemic has the potential to change the development perspective, economic structure, approach of Vietnam and many other countries.
The following are the statistical indicators of Quarter I / 2020: