The Hanoitimes - The Government report on the implementation of the 2016 socio- economic development plan delivered at the 2nd session of the 14th National Assembly’s Economic Committee in Hanoi on October 7, the macro economy was stable and the inflation rate was still under control.
According to the Government report on the implementation of the 2016 socio-economic development plan delivered at the meeting, the national economy continuously saw signs of recovery and stable growth in the first 9 months of 2016, with the GDP increasing an estimated 5.93 percent.
The report showed that with the Government's efforts, the macro economy was stable and the inflation rate was still under control. The inflation rate in 2016 is forecast to be below the 5-percent target set by the NA.
The Government paid attention to directing the implementation of three strategic breakthroughs, focusing on perfecting the legal system, building infrastructure and creating momentums for sustainable economic development.
Efforts were made to accelerate the economic restructuring, with good performances in the restructuring of public investment, State-owned enterprises (SOEs), and commercial banks.
Other fields such as education and training, science and technology, labour and employment, social security and welfare, and health care also reached positive achievements.
Particularly, the Government timely took policies to support residents in the four central coastal provinces affected by the recent environment incident and those hit by drought and saline intrusion.
Monetary and fiscal policies were adjusted flexibly to ensure the stability of the macro economy and promote socio-economic development, according to the report.
However, Vice Chairman of the NA Council for Ethnic Affairs Nguyen Lam Thanh pointed out shortcomings in poverty reduction and administrative reform, and the increase of criminal cases.
Participants basically agreed with the report and the orientations to realise socio - economic development goals in 2017.
Delegates also raised their concern about the weak growth of several sectors and the decreasing collection from export-import activities and SOEs.
Le Minh Chuan, a deputy from Quang Ninh province suggested accelerating the application of the market mechanism in the provision of public commodities and services such health care, education, and other essential goods like electricity and water.
He noted that it is necessary to strictly control credit growth and quality, and avoid maintaining a loose monetary policy for a long time.