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.
Legislators debate socio-economic development, state budget ảnh 1At a group discussion of the third session of the 15th National Assembly. (Photo: VNA)
Hanoi (VNA) – President Nguyen Xuan Phucsaid 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 supplementaryassessments of the implementation of the socio-economic development plans andthe state budget in 2021 and the first months of 2022, Phuc also stressed social issues thatneed special attention, especially education, child abuse, drowning and schoolviolence.

He pointed to challenges to the national economy inthe time ahead such as inflation, impacts of the soaring global energy pricesand 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 unprecedenteddifficulties caused by COVID-19, the country’s socio-economicdevelopment still saw good signs last year, with gross domestic product (GDP) up 5.22percent in the last quarter and 2.58 percent 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 uponly 1.84 percent, they said.

They attributed the results to the leadership and instructionof the Party, the legislature and the government who have taken sound andtimely 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-19prevention and control strategy to the safe and flexible adaptation to andeffective control of the pandemic.

In his group's discussion, NA Chairman Vuong Dinh Huesaid the annual growth target of 6.5-7 percent until 2025 as specified in the 13th National Party Congress' resolutionand 8-8.5 percent set by the legislature this year remains a big challenge.
Legislators debate socio-economic development, state budget ảnh 2NA Chairman Vuong Dinh Hue said the annual growth target of 6.5-7 percent until 2025 remains a big challenge.(Photo: VNA)
Only over 70 percent of public investment and 32.85percent of official development assistance (ODA) was disbursed last year.Notably, the economic recovery and development programme worth some 340trillion VND (14.65 billion USD) has not yet been implemented, while it will become invalid after 2023.

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

Many deputies voiced the view that consistentpolicies on economic reopening are needed in order not to miss out on opportunities, along with more breakthroughmeasures to recover strongly. /.
VNA

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