Legislators debate socio-economic development, state budget

President Nguyen Xuan Phuc said at a group discussion on May 25 during the third session of the 15th National Assembly that the implementation of economic stimulus packages and public investment should be promoted to provide timely support for businesses and people.

Speaking at the group discussion on supplementary assessments of the implementation of the socio-economic development plans and the state budget in 2021 and the first months of 2022, Phuc also stressed social issues that need special attention, especially education, child abuse, drowning and school violence.

He pointed to challenges to the national economy in the time ahead such as inflation, impacts of the soaring global energy prices and stock market volatility which requires supportive measures to stay stable.

The President recognised the encouraging economic indices in the first five months of 2022, but warned against complacency. 

He said the Resolution adopted at the 13th National Party Congress sets specific targets by 2025, 2030 and 2045, with continuously high growth. Therefore, it requires strong, drastic measures to reach the targets.

Legislators shared the view that despite unprecedented difficulties caused by COVID-19, the country’s socio-economic development still saw good signs last year, with gross domestic product (GDP) up 5.22 % in the last quarter and 2.58 % for the whole year.

Seven out of 12 socio-economic targets were achieved, the macro economy was kept stable and the consumer price index (CPI) inched up only 1.84 %, they said.

They attributed the results to the leadership and instruction of the Party, the legislature and the government who have taken sound and timely decisions and policies to mobilise the strength of the entire political system, and the support of people, businesses and international community.

The deputies highlighted the transition from the COVID-19 prevention and control strategy to the safe and flexible adaptation to and effective control of the pandemic.

In his group's discussion, NA Chairman Vuong Dinh Hue said the annual growth target of 6.5-7 % until 2025 as specified in the 13th National Party Congress' resolution and 8-8.5 % set by the legislature this year remains a big challenge.

Only over 70 % of public investment and 32.85 % of official development assistance (ODA) was disbursed last year. Notably, the economic recovery and development programme worth some VND340 trillion (US$14.65 billion) has not yet been implemented, while it will become invalid after 2023.

He emphasised the need to figure out reasons behind the outstanding problems in the disbursement work during economic recovery and development, especially in health care and education.

Many deputies voiced the view that consistent policies on economic reopening are needed in order not to miss out on opportunities, along with more breakthrough measures to recover strongly.

Related

NA Standing Committee scrutinises State budget estimate of non-refundable aid
NA Standing Committee scrutinises State budget estimate of non-refundable aid

The National Assembly (NA) Standing Committee considered the supplementation of the State budget estimate of foreign non-refundable aid (under the task of recurrent expenditure) in 2020 as well as that in 2021 during its ongoing ninth session on March 15 morning.

NA Standing Committee scrutinises State budget estimate of non-refundable aid

NA Standing Committee scrutinises State budget estimate of non-refundable aid

The National Assembly (NA) Standing Committee considered the supplementation of the State budget estimate of foreign non-refundable aid (under the task of recurrent expenditure) in 2020 as well as that in 2021 during its ongoing ninth session on March 15 morning.