The National Assembly (NA) Committee for Economic Affairs and Budget hold a plenary session on February 27-28 to appraise Government reports in preparation for the 11^th session of the 11^th National Assembly.

According to the Government reports, despite facing a lot of difficulties such as natural disasters and epidemics  in 2006, the Government directed and managed ministries and sectors effectively to increase the  economic growth rate. As a result,  the country’s total GDP reached 8.17 percent, higher than the set target.

Socially, Vietnam continued to make remarkable progress in poverty reduction. The significant achievements in external- related and international economic cooperation have created more favarouble conditions for the country to boost its economic development and raise its international position. During the past year, national security and social order were also maintained.

In terms of the State budget collection and spending in 2006, balanced budget volume surpassed estimates by 11.1 percent and increased by 21.7 percent compared to last year with the domestic sector accounting for 52 percent of the total balanced budget volume.

2006 was the first year the Law on Thrift Practice and Wastefulness Prevention was implemented. Initial results showed drastic changes in attitude towards thrift practice and wastefulness prevention from sectors, agencies,  units as well as State employees and officials.

Approximately VND267.1 billion was saved in the management of regular spendings from the State budget and VND776.4 billion from construction investments. State treasuries refused to pay more than VND527 billion which was allocated unfairly under State regulations. The State-run enterprises also saved more than  VND1.997 billion. The Government reports also deal with shortcoming and weaknesses and devised measures to overcome them in the coming period.

During the session, NA deputies gave opinions on solutions for carrying out socio-economic tasks, implementing the State budget, practicing thrift and preventing wastefulness in 2007.