NA dissects socioeconomic picture

Earlier on October 20, PM Nguyen Tan Dung presented a report summing up key socioeconomic achievements over the past five years as well as major orientations and tasks for the next five years.

The report revealed positive signals, including tamed inflation, stable macroeconomy, appropriate economic growth in combination with accelerated restructuring of the economy.

According to the report, the consumer price index sharply decreased from 18.13% in 2011 to 2% in 2015, the lowest in the past 15 years.

The export turnover increased around 18% per year and trade deficit reduced from 10.2% in 2011 to 3.67% in 2015.

Foreign reserves reached a record high. Total social investment saw 1.8 times higher than five years ago, accounting for 31.2% of the total GDP.

Total realized foreign direct investment and disbursed official development assistance achieved US$58.2 billion and US$24 billion, up 31% and 70.5%, respectively.

GDP growth in 2015 is estimated to obtain 6.5%, the highest recorded in the past five years and exceeding the set plan. Total GDP will reach US$204 billion, or a GDP per capita of US$2,228.

The Government chief, however, pointed out a series of challenges and shortcomings like high overspending amid constrained budget resources, low productivity and competitiveness, slow economic restructuring.

He also drew five lessons. Firstly, it is necessary to strictly follow Party guidelines, the Constitution, and laws, making the national and people’s benefits first and foremost and focusing on completing the market economy and using effectively all resources for fast and sustainable development.

Secondly, the tasks and missions proposed must be suitable and approved by citizens. Difficulties and obstacles must be tackled and the responsibilities of State officials, especially the office heads, must be highlighted.

Thirdly, it is vital to ensure social security and improve people’s lives, develop rural agriculture, ethnic minority areas and disadvantaged regions and synchronously implement social equality and progress.

Fourthly, it needs to have active international integration, expand and diversify the market, attract and take advantage of outside resources and create a favorable environment for national industrialization and modernization.

Fifthly, PM Dung required to strengthen the bloc of the national unity, promote democracy, enhance the close cooperation among organizations in the political system and create social consensus.

Two days after the report was released, many legislators highly said the Government’s measures proved effective in preventing economic recession against the backdrop of the global economic crisis.

International organizations had positive comments on economic prospects for the 2015-2016 period for Viet Nam which is among countries that recorded a GDP growth rate of over 6%.