Capital introduces three management scenarios to mitigate Covid-19 outbreak damages

The meeting of the Ha Noi municipal People's Committee

Director of the Ha Noi Department of Planning and Investment Nguyen Manh Quyen was quoted as saying that a series of preset economic norms would be missed due to the novel coronavirus outbreak. Hence, the municipal People’s Committee set three management scenarios in a bid to mitigate damages sparked by the disease; boost economic recovery; and ensure social safety. 

Specifically, in the first scenario, the virus would be contained early. The local economy would bounce back in Q2; make breakthroughs in Q3 and Q4; and attain a 7.5% growth rate for the whole year. 

In the second scenario, the outbreak would be controlled in Q2. The forecast economic growth rate would be 6.42%, lower than the preset target. 

In the last scenario, the outbreak would last till the year's end. Economic growth rate would touch 5.34%, lower than the preset goal.

Mr. Quyen revealed that the People’s Committee would cut regular spending budget by at least 5%; review financial and budget situations. 

Sectors and districts would streamline administrative procedures and expand four-level public services. 

The People’s Committee also requested simpler procedures on production and business and generate more jobs.

In addition, the local authorities would ensure social welfare; support people with merits and social beneficiaries./.

By Kim Loan