Prime Minister Nguyen Xuan Phuc ​speaks at the Government meeting on August 30 (Photo: VNA)

Hanoi (VNA) – If development tasks are not implemented in a drastic manner in September and the fourth quarter of 2017, they might not be achieved, Prime Minister Nguyen Xuan Phuc said at the Government’s August regular meeting on August 30.

Cabinet members discussed solutions to fulfil socio-economic targets for this year and gave opinions on the implementation of the State budget plan for 2017 and estimates for 2018, the allocation of the central budget in 2018, and other hot issues emerging in August.

Concluding the meeting, PM Phuc applauded tireless efforts by ministries, sectors, localities, organisations, individuals and businesses in carrying out 13 socio-economic targets set for this year, with eight of them expected to surpass the plans.

The Cabinet chief ordered them not to be subjective while continuing to review each target and exert all-out efforts to realise the targets.

He requested the Ministry of Finance to review budget collection and expenditure targets to ensure national financial security and major financial balances. He urged actions to prevent tax fraud, debt and over-collection and to promote tax revenues.

It is also necessary to strongly reform the budget, increase expenditure on development investment and debt repayment, and sharply decrease frequent spending, the Government leader said.

To facilitate the capital flow for production and business activities, the PM asked the State Bank of Vietnam to cut down lending interest rates by another 0.5 percent since this is an important solution to stimulate the economy. It has to take necessary measures to support businesses while ensuring a credit growth rate of at least 21 percent and strictly dealing with credit-related violations.

Regarding the acceleration of investment and ODA capital disbursement for infrastructure construction, he instructed the Ministry of Planning and Investment to promptly allocate capital under the Government’s resolution while inspecting units which directly use public investment capital.

In the short term, the increase of taxes, fees and charges needs to be postponed to avoid impacts on enterprises and the business environment, he noted.

At the meeting, PM Phuc asked the agricultural sector to attain the planned growth rate of 3.05 percent and farm produce export turnover of 35 billion USD, which will set a new record. He also ordered examination of big industrial provinces to remove difficulties and accelerate industrial projects.

If the industrial, agricultural and services sectors fail to realise their targets for only one month, it will be hard to achieve the targeted growth rate of 6.7 percent for 2017, the PM said, stressing that the tourism industry must strive to serve 15-17 million tourists this year.-VNA