NASC reviews socio-economic performance
12:53 | 13/10/2017

VGP – The National Assembly Standing Committee (NASC) listened to a report on the implementation of socio-economic norms and State budget for 2017; others for 2018.

National Assembly Vice Chairman Phung Quoc Hien chairs the session, Ha Noi, October 12, 2017 - Photo: VGP/Nguyen Hoang

A majority of NASC members shared the Government’s assessments that most major socio-economic development targets would be completed this year, noting that the economy remains stable and the environment for business and production continues to improve. 

However, they also expressed concern that the economic restructuring process in combination with shifting new growth model, raising productivity and economic competitiveness remains slow. 

On the basis of positive economic growth, controlled inflation rate, and stable macro-economic balances, they proposed further consideration and amendment to solutions and policies; attached more importance to short-term economic growth and quality assessment to avoid negative risks. 

Many commented that the preset goal of 6.7% GDP growth rate is a really challenge, saying that there is not much ground for expanding domestic consumption, foreign sector’s exports, manufacturing and processing in the remaining months.  

NA Vice Chairman Uong Chu Luu recommended the Government make clear on conditions and factors for high socio-economic performance and resources in favor of the 6.7% GDP growth pace. 

The Vice Chairman also requested the Government should explain why it is confident that State budget collection will meet target in 2017 when the domestic revenue only rose 2.1 percent from the estimate and  revenues collected from State, foreign-invested and non-State enterprises failed to meet the estimate.  

Regarding the socio-economic development plan for 2018, some NASC members asked the Government to make clear the necessity for setting general goals; highlighting the significance of further macro-economic stabilization, inflation curbing, transformation of the growth model and economic structuring. 

They proposed the Government continue to improve the investment and business environment; and remove unnecessary business conditions./.

By Kim Loan 

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