Page 17 - niengiam2022

OVERVIEW ON SOCIO-ECONOMIC SITUATION

IN HOA BINH PROVINCE

IN 2022

Economic context in the world and in the country
Socio-economic of our country in 2022 took place in the context that

the world economy was facing great challenges, rapid and unpredictable
fluctuations and high instability; inflation rose to its highest level in decades
forcing countries to tighten monetary policy. Strategic and geopolitical
competition between major powers, military conflict between Russia and
Ukraine; natural disasters, epidemics, climate change, storms, droughts...
increased risks to financial markets, currency, energy security, and global
food security.

Domestically, with the determination to recover and develop the
economy, creating momentum to complete the socio-economic goals of
th
2022 and the period of 2021-2025 set out by the Resolution of the 13
Party Congress, the Government and the Prime Minister have directed
Ministries, branches and localities closely monitor the situation and

policy changes of countries to promptly issue monetary and fiscal
policies and appropriate macro solutions. At the same time, actively and
drastically implement the tasks and solutions of Resolution No. 01/NQ-
CP, Resolution No. 02/NQ-CP, Resolution No. 11/NQ-CP on Socio-
economic Recovery and Development Program. Thanks to that, our
country's economy recovered strongly, the macro-economy was stable,

inflation was under control, and major balances were ensured. The
business investment environment has been improved, positively
contributing to the socio-economic recovery and development, creating
the trust and support of the people and the business community.

Facing that situation, the Provincial Party Committee, People's Council
and People's Committee of Hoa Binh province focused on directing branches
and levels to continue to effectively control the Covid-19 pandemic; promptly

17