NA Standing Committee debates Government supplementary report
Updated : Tuesday, May 15, 2018 3:11 PM (GMT+0700)

TheNational Assembly Standing Committee began its 24th session on May14 with discussions on the Government’s supplementary report on socio-economicperformance in 2017. 

National Assembly Chairwoman Nguyen Thi Kim Ngan (standing) addresses the opening
of the NA's 24th session - Photo: VNA

The report said eight out of13 yearly targets assigned by the NA had been overfulfilled and four fulfilled,while one target was not met. 

In the initial reportsubmitted to the NA’s fourth session in October last year, the Governmentexpected five targets to be surpassed and eight fulfilled. 

That means three moretargets have been overfulfilled, which are a GDP growth of 6.81 percent (theforecast rate was 6.7 percent), an average increase in Consumer Price Index(CPI) of 3.53 percent (the forecast rise was around 4 percent) and reductionsof 1.51 percent in overall household poverty based on multi-dimensional povertystandard and 5 percent in poor districts (the estimated decreases were 1-1.5percent and 4 percent). 

Meanwhile, the target onreducing energy consumption per unit of GDP (energy intensity) was not met witha reduction of 0.5 percent, while the target and forecast decrease was 1.5percent. However, the NA no longer requires the annual assessment of thisobjective since 2018. Instead, the performance in this field will be reviewedevery five years. 

The revised total investmentas percent of GDP was also lower than the estimated outcome reported to the NAin the 4th session. 

The NA Standing Committeeagreed that the economy posted uniform increases across the board in 2017,which reflected the great efforts made by the Government, authorities andsectors at all levels.  

They highlighted theimpressive economic growth which was the highest since 2011, and the recordforeign trade revenues. 

Chairman of the NA Committeefor Culture, Education and Young People Affairs Phan Thanh Binh noted positivechanges in the export of agricultural products, improved competitiveness andhigher disbursement of Foreign Direct Investment (FDI) capital. 

The participants also tooknote of the regular increase in labour productivity through recent years, butstressed that labour productivity based on Purchasing Power Parity is stilllower than that of many regional countries, and the gap is widening.  

The NA Economic Committeesaid however, besides industry and export, the potential of other sectors aswell as key economic regions has not been fully tapped. It also pointed toother problems in the economy, such as a lack of linkage between production andmarket demands in the agriculture sector, resulting in falling prices aftergood harvest. The industrial sector still faces difficulties in raisingproducts’ added value and in joining global value and production chains. 

The NA Standing Committeecontinued to examine the Government’s supplementary report on socio-economicperformance in 2017 and assess the implementation of 2018 socio-economic plansand the State budget in the first months of 2018 in the afternoon of May14. 

The 24th sessionof the NA Standing Committee will last through May 16.


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