Major tasks and solutions devised to stabilise macro-economy

Prime Minister Pham Minh Chinh has recently issued Directive No21/CT-TTg, which outlines the guidelines for developing socio-economic development plans and state budget estimates for 2024.
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The directive acknowledges that in the coming year, domestic and international circumstances necessitate a continued focus on overcoming limitations and weaknesses, while building upon and promoting the achieved results.

Efforts must be made to address difficulties and challenges and strive for the highest level of completion of the designated tasks. These endeavours will contribute to the successful implementation of the objectives outlined in the five-year socio-economic development plan for 2021-2025.

In order to fulfil this directive, ministries, central agencies, and localities are required to develop a report on the Socio-Economic Development Plan for 2024. These reports should primarily assess the implementation of the Socio-Economic Development Plan for 2023.

By evaluating and estimating the implementation of the plan across all sectors and fields assigned to them, ministries, central agencies, and localities should provide a comprehensive, substantive, and accurate account of the results achieved.

The evaluation should particularly emphasise maintaining macroeconomic stability, controlling inflation, promoting growth, and ensuring key economic balances. In this regard, specific aspects such as credit management, interest rates, and timely capital allocation for production and business activities need to be clarified.

The socio-economic development plan for 2024 should be based on a comprehensive and accurate assessment of the situation and the results achieved in the implementation of the 2023 plan. It should also take into account the current and future national, regional, and international contexts, as well as the opportunities and challenges faced by various industries, sectors, and localities.

Given the significance of the year 2024 in completing the five-year plan, especially considering the long-term consequences of the COVID-19 pandemic, the objectives, orientations, and solutions outlined in the plan must be robust, decisive, and effective.

They should ensure feasibility and synchronisation while aligning with the capacities of various sectors, levels, and localities. The plan should facilitate resource mobilisation, allocation, and utilisation, driving substantial and transformative changes in socio-economic development and successfully accomplishing the goals of the 2021-2025 plan.