NA continues discussions on socio-economic situation

Photo: VGP

The discussion on the socio-economic situation began on October 30 and was broadcast live on the national TV channel.

The control over public debts, management over non-performing loans and the effective use of official development assistance drew concerns of many deputies while matters related to economic growth and scientific and technological applications in agriculture were raised during the session.

Responding to the concern of many deputies about public debts, Minister of Finance Dinh Tien Dung affirmed that public debts would not exceed the limit which the NA allowed and the Government would improve the effectiveness of projects using public debts in order to gradually reduce the State budget overspending to 4% by 2020.

The country had a huge investment demand over the past years when the world economy was struggling against turmoil. As the domestic economy faced a lower growth than planned, the country needed more loans for development investment, Dung explained.

The borrowed capital has been supplemented to realized key projects on economic restructuring  hunger eradication and poverty reduction and social welfare, Dung added.

Regarding the pressure of public debt payment in two coming years, Dung affirmed that the country’s public debt balance is still within the NA-allowed limit and the Government’s public debt strategy while efforts are intensified to lower the State budget overspending to 4% by 2020.

                                                                                                                By Vien Nhu