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.

At a group discussion of the third session of the 15th National Assembly. (Photo: VNA)
At a group discussion of the third session of the 15th National Assembly. (Photo: VNA)

Speaking at the group discussion on supplementary assessments of the implementation of the socio-economic development plans and the state budget in 2021 and the first months of 2022, President Phuc also stressed social issues that need special attention, especially education, child abuse, drowning and school violence.

He pointed to challenges to the national economy in the time ahead such as inflation, impacts of the soaring global energy prices and 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 unprecedented difficulties caused by COVID-19, the country’s socio-economic development still saw good signs last year, with gross domestic product (GDP) up 5.22 percent 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 up only 1.84 percent, they said.

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

In his group's discussion, NA Chairman Vuong Dinh Hue said the annual growth target of 6.5-7 percent until 2025 as specified in the 13th National Party Congress' resolution and 8-8.5 percent set by the legislature this year remains a big challenge.

Legislators debate socio-economic development, state budget ảnh 1



NA Chairman Vuong Dinh Hue said the annual growth target of 6.5-7 percent until 2025 remains a big challenge.(Photo: NDO/Linh Nguyen)

Only over 70 percent of public investment and 32.85 percent of official development assistance (ODA) was disbursed last year. Notably, the economic recovery and development programme worth some 340 trillion 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 problems in the disbursement work during economic recovery and development, especially in health care and education.

Many deputies voiced the view that consistent policies on economic reopening are needed in order not to miss out on opportunities, along with more breakthrough measures to recover strongly.