Lawmakers on October 24 focused on economic growth while discussing three topics: the socio-economic situation this year, the results of the first three-year implementation of the five-year plan 2011-15, and the Government's tasks for 2014-15.
According to a Government report, among 15 targets ratified by the National Assembly for 2013, 11 were achieved beyond expectations, two missed by a small margin and another two were not accomplished.
The national gross domestic product (GDP) is forecast to grow by 5.4 percent by the year's end compared to the set target of 5.5 percent. The nation has created about 1.54 million jobs, 60,000 less than planned.
Deputy Tran Du Lich said that GDP growth was not expected to reach the planned rate, but the Government should not rush to increase it because this might cause inflation to rise.
He added that macro-economic stabilisation should still be the top priority for the Government from now until the end of 2015. He agreed with the Government report that inflation will be kept at 7 percent.
He said the Government proposed to increase next year's budget overspending rate to 5.3 percent, but it should only be a temporary solution.
The important thing is to tackle difficulties in raising credit growth. If it does not reach 15 percent, it will be hard for the economy to escape recession, he stated.
Deputy Nguyen Thi Kha from the southern province of Tra Vinh said that while the country's economic growth has been slowing, other countries in the ASEAN region, such as Myanmar , have seen an improvement.
Deputy Tran Hoang Ngan from Ho Chi Minh City said he appreciates the Government's efforts to boost the socio-economic development, saying that despite the world economic recession, Vietnam 's export sector still rose by 15-16 percent.
He added that the trade deficit has been reduced in the last two years and is now estimated to be under 1 billion USD.
However, he expressed concerns over the rise of budget overspending, the unemployment situation, the frozen real-estate market and the inefficiency of public investment.
Deputy Tran Trong Nghia from HCM City asked why the trade deficit has fallen and if this is good for the economy, suggesting the Government do some deep analysis.
In the report, Prime Minister Nguyen Tan Dung said the Government will strive to attain an average growth rate of 6 percent per year; GDP per capita reaching 2,200-2,300 USD by 2015; CPI increasing 7 percent per year; and exports growing by 10 percent per year.
In 2014 alone, economic growth is set to be about 5.8 percent and the CPI increase by nearly 7 percent on this year's figures.
However, in the NA Economics Committee's report on the assessment of the implementation of the NA's resolution on socio-economic development during 2011-13 and the plan for 2014, its chairman Nguyen Van Giau quoted some deputies as saying that economic growth next year should stand at 5.5 percent and the CPI rise by 6 percent.
Based on the socio-economic results of the past three years and the State budget, most deputies of the committee agreed that the average economic growth in the next two years will be hard to reach 6.5-7 percent per year and that it will be difficult to keep State budget overspending under 4.5 percent of GDP.
Deputy Nguyen Van Phuc from the central province of Ha Tinh proposed the establishment of a national committee for economic restructuring which will include representatives of the Government, National Assembly and experts.
Giau said most State-owned enterprises had plans to restructure, but in reality, little progress had been made. "The slower the process, the more serious the consequences," he said.
Ngan from HCM City said it is necessary to create confidence among the public by keeping interest rates stable so that people felt secure when borrowing for businesses and production.
Many lawmakers agreed that under the current situation, if people's confidence is raised, it will be easier to mobilise capital from the private sector to develop the economy.-VNA
According to a Government report, among 15 targets ratified by the National Assembly for 2013, 11 were achieved beyond expectations, two missed by a small margin and another two were not accomplished.
The national gross domestic product (GDP) is forecast to grow by 5.4 percent by the year's end compared to the set target of 5.5 percent. The nation has created about 1.54 million jobs, 60,000 less than planned.
Deputy Tran Du Lich said that GDP growth was not expected to reach the planned rate, but the Government should not rush to increase it because this might cause inflation to rise.
He added that macro-economic stabilisation should still be the top priority for the Government from now until the end of 2015. He agreed with the Government report that inflation will be kept at 7 percent.
He said the Government proposed to increase next year's budget overspending rate to 5.3 percent, but it should only be a temporary solution.
The important thing is to tackle difficulties in raising credit growth. If it does not reach 15 percent, it will be hard for the economy to escape recession, he stated.
Deputy Nguyen Thi Kha from the southern province of Tra Vinh said that while the country's economic growth has been slowing, other countries in the ASEAN region, such as Myanmar , have seen an improvement.
Deputy Tran Hoang Ngan from Ho Chi Minh City said he appreciates the Government's efforts to boost the socio-economic development, saying that despite the world economic recession, Vietnam 's export sector still rose by 15-16 percent.
He added that the trade deficit has been reduced in the last two years and is now estimated to be under 1 billion USD.
However, he expressed concerns over the rise of budget overspending, the unemployment situation, the frozen real-estate market and the inefficiency of public investment.
Deputy Tran Trong Nghia from HCM City asked why the trade deficit has fallen and if this is good for the economy, suggesting the Government do some deep analysis.
In the report, Prime Minister Nguyen Tan Dung said the Government will strive to attain an average growth rate of 6 percent per year; GDP per capita reaching 2,200-2,300 USD by 2015; CPI increasing 7 percent per year; and exports growing by 10 percent per year.
In 2014 alone, economic growth is set to be about 5.8 percent and the CPI increase by nearly 7 percent on this year's figures.
However, in the NA Economics Committee's report on the assessment of the implementation of the NA's resolution on socio-economic development during 2011-13 and the plan for 2014, its chairman Nguyen Van Giau quoted some deputies as saying that economic growth next year should stand at 5.5 percent and the CPI rise by 6 percent.
Based on the socio-economic results of the past three years and the State budget, most deputies of the committee agreed that the average economic growth in the next two years will be hard to reach 6.5-7 percent per year and that it will be difficult to keep State budget overspending under 4.5 percent of GDP.
Deputy Nguyen Van Phuc from the central province of Ha Tinh proposed the establishment of a national committee for economic restructuring which will include representatives of the Government, National Assembly and experts.
Giau said most State-owned enterprises had plans to restructure, but in reality, little progress had been made. "The slower the process, the more serious the consequences," he said.
Ngan from HCM City said it is necessary to create confidence among the public by keeping interest rates stable so that people felt secure when borrowing for businesses and production.
Many lawmakers agreed that under the current situation, if people's confidence is raised, it will be easier to mobilise capital from the private sector to develop the economy.-VNA
