2016 target: further stability, higher growth

Photo: VGP

PM Dung made the statement when delivering a report to the National Assembly on the socio-economic situation of 2015 and the 2011-2015 period and plans for 2016 and the 2016-2020 period.

Economically, the report said that the average annual gross domestic product (GDP) for the next five years is targeted at 6.5-7% and 6.7% for 2016. By 2020, GDP per capita is expected to be US$3,750 and US$2,450 in 2016. The consumer price index will be below 5% in 2016.

The ratio of industry and services in the GDP will be over 85%; the total social investment in 2016 and the next five years is expected to account for 31% of the GDP; and the budget deficit in 2016 will be 4.95% of the GDP and 4.8% in 2020.

Socially, laborers in agriculture is expected to account for 40% of the total labor force by 2020; trained workers will reach approximately 65% by 2020 and 53% in 2016. The unemployment rate in urban areas will be under 4%.

Medically, by 2020 there will be nine doctors and 26.5 beds for 10,000 people; the medical insurance coverage will reach 80% of the population; and the malnutrition rate among children under five will fall below 10%.

The report set a target to reduce the poor household rate by 1-1.5% per year and increase the average housing area per capita to 25 square meters.

Environmentally, by 2020 95% of urban residents and 90% of rural residents will use safe water. 90% of operating industrial and processing zones will have standard sewage treatment system; 80-85% of dangerous wastes and 90-100% of medical wastes will be treated; 90% of solid wastes in urban areas will be collected and the forest coverage will be 42%.

The Government’s report also stated important solutions to develop the socialist-oriented market economy, stabilize the macroeconomy, create the environment and stimulus for socio-economic development.