Hanoi’s economy continues its growth momentum in the first quarter of 2024, thanks to its activeness and flexibility in implementing socio-economic development measures, according to the municipal People’s Committee.
Hanoi (VNA) – Hanoi’s economycontinues its growth momentum in the first quarter of 2024, thanks to itsactiveness and flexibility in implementing socio-economic development measures,according to the municipal People’s Committee.
The committee said that the capital city’sgross regional domestic product (GRDP) grows by 5.5% in the first quarter, inwhich services expand by 5.84%, industry and construction by 4.77% and agro-fishery-forestryby 3.76%, and product tax by 4.94%.
Budget collection reaches 146.8 trillionVND (5.87 billion USD) in the period, equal to 36% of the yearly estimates, andup 3.9% against the same period last year.
Local budget expenditure is 31.59 trillionVND, or 14.7% of the estimates, of which 9.5 trillion VND is for developmentinvestment.
In January-March, the capital’s exportturnover is estimated at 3.9 billion USD, up 3.7% year-on-year, while itsimport revenue is estimated at 8.6 billion USD, up 1% year-on-year.
The index of industrial production in thefirst quarter is estimated to expand 3.6% against the same period of 2023,while total retail sales of consumer goods and services are estimated at 199.6trillion VND, up 9.3%.
Truong Viet Dung, Chief of the Office ofthe Hanoi People's Committee Office, said that the city will continue topromote growth associated with controlling inflation and ensuring majorbalances of the economy.
Attention will be paid to effectively andpromptly implementing the government’s policies on interest rates and credit tosupport businesses and people, and speeding up disbursement of publicinvestment right from the beginning of the year, especially for key projects,and national target programmes, he added./.
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Illustrative image (Photo: VNA) 
