A majority of National Assembly Standing Committee deputies hailed the policy of stabilising the macro-economy and curbing inflation as appropriate at their 22nd session in Hanoi on October 11.
Under the chair of NA Vice Chairwoman Nguyen Thi Kim Ngan, deputies reviewed the 2013 socio-economic performance and State budget, and the plans for socio-economic development in 2014.
They shared the view that this year’s goal of strengthening macro-economic stability has been fulfilled with lower inflation and higher growth than last year’s rate while social welfare is ensured.
According to the Government, the economy is on track to recovery with encouraging growth in almost all sectors, forging impetus for economic growth later this year and 2014.
From January to September, Vietnam enjoyed an estimated economic growth of 5.14 percent. The annual rate is expected to hit 5.4 percent, higher than 5.25 percent recorded last year.
Exports are projected to grow by 15.7 percent and the trade deficit is forecast to reach 500 million USD, or 0.4 percent of total exports. Thanks to the improved trade balance and increased disbursement of foreign direct investment, foreign exchange rates have become stable.
Despite difficulties in balancing the State budget, the Government has hiked minimum salaries and offered tax exemptions and breaks that amount to nearly 6.6 trillion VND (314 million USD) to assist individuals and businesses.
However, the unemployment rate in rural areas is on the rise. Over 60,000 firms had to shut down or went bankrupt. The securities market has seen a slow recovery while enterprises still find it hard to access capital.
At the same time, the economy still has low competitiveness and the issue of bad debts is yet to be resolved. Construction of new-style rural areas remains slow, the quality of education-training has yet to improve much while social vices are turning complicated.
Looking at prospects for next year, some deputies suggested setting next year’s economic growth at 5.5 percent and the consumer price index at about 6 percent while the government proposed the targets at 5.8 percent and 7 percent, respectively.
On the afternoon of the same day, lawmakers commented on the draft amendments to the Bidding Law.-VNA
Under the chair of NA Vice Chairwoman Nguyen Thi Kim Ngan, deputies reviewed the 2013 socio-economic performance and State budget, and the plans for socio-economic development in 2014.
They shared the view that this year’s goal of strengthening macro-economic stability has been fulfilled with lower inflation and higher growth than last year’s rate while social welfare is ensured.
According to the Government, the economy is on track to recovery with encouraging growth in almost all sectors, forging impetus for economic growth later this year and 2014.
From January to September, Vietnam enjoyed an estimated economic growth of 5.14 percent. The annual rate is expected to hit 5.4 percent, higher than 5.25 percent recorded last year.
Exports are projected to grow by 15.7 percent and the trade deficit is forecast to reach 500 million USD, or 0.4 percent of total exports. Thanks to the improved trade balance and increased disbursement of foreign direct investment, foreign exchange rates have become stable.
Despite difficulties in balancing the State budget, the Government has hiked minimum salaries and offered tax exemptions and breaks that amount to nearly 6.6 trillion VND (314 million USD) to assist individuals and businesses.
However, the unemployment rate in rural areas is on the rise. Over 60,000 firms had to shut down or went bankrupt. The securities market has seen a slow recovery while enterprises still find it hard to access capital.
At the same time, the economy still has low competitiveness and the issue of bad debts is yet to be resolved. Construction of new-style rural areas remains slow, the quality of education-training has yet to improve much while social vices are turning complicated.
Looking at prospects for next year, some deputies suggested setting next year’s economic growth at 5.5 percent and the consumer price index at about 6 percent while the government proposed the targets at 5.8 percent and 7 percent, respectively.
On the afternoon of the same day, lawmakers commented on the draft amendments to the Bidding Law.-VNA
