Socio-economic situation under review
(VOV) - In a total of 15 socio-economic targets set for 2012, 11 were achieved or surpassed, according to a Government report released at the fifth session of the National Assembly (NA) in Hanoi on May 20.
At the session, Deputy Prime Minister Nguyen Xuan Phuc reviewed the implementation of socio-economic development plans for 2012 and in the first fourth months of this year and worked out major solutions for the Government’s performance in remaining months.
The Government’s future key tasks will be on stronger measures to stabilize the macro-economy, keep inflation in check, achieve higher economic growth than in 2012, removing difficulties in production and business, deal with bad debts, expand the market, increase purchasing power and push up economic restructuring, said Phuc.
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| Photo: VGP |
He also called for greater efforts to ensure social welfare, control natural disasters, protect the environment, cope with climate change, enhance administrative reform, improve the efficiency of State management and, combat corruption and wastefulness and step up foreign-related information dissemination.
According to a Government appraisal report, the national economy is still facing numerous challenges and difficulties. The 5.03 percent economic growth in 2012 is far below from the NA’s set target of 6-6.5 percent.
Last year, bad debts and inventory ratios in the processing industry, engineering and the property market remained high while the number of businesses which dissolved, filed for bankruptcy or suspended operations was higher than in 2011.
Meanwhile, credit growth was only 8.91 percent, down from 31 percent in 2010 and 14.41 percent in 2011.
In the first four months of this year, gross domestic product growth hit 4.89 percent, higher than 4.75 percent recorded in the same period last year.
The NA Committee for Economic Affairs underlined the need to implement economic growth and inflation control targets for this year in an effective and harmonious manner in the context of implicit economic uncertainties.
Also the same day, President of the Vietnam Fatherland Front (VFF) Central Committee Huynh Dam presented a report collecting opinions and proposals from voters and people across the country on issues of their concern.