At the event (Source: VNA) Hanoi (VNA) – The Government projects a GDPgrowth of 6.7 percent in 2017 in a report submitted to the National AssemblyStanding Committee on October 12 during the Committee’s 15th sessionin Hanoi.
According to the government’s report, macro-economy has beenstabilised while inflation is kept below 4 percent. The gross domestic product(GDP) is estimated at 5,000 trillion VND or nearly 225 billion USD.
Based on the socio-economic development plan for 2016-2020adopted by the legislature, the projected performance of the economy in 2017and the domestic and international situation, the Government envisions that theGDP is expected to expand by 6.5-6.7 percent in 2018 and export turnover toincrease by 7-8 percent. The consumer price index would rise by an estimated 4percent and the total social investment would account for 33-34 percent of theGDP next year, according to the projection.
The majority of NA Standing Committee members shared theGovernment’s view that most major socio-economic development targets would becompleted this year, noting that the economy remains stable and the environmentfor business and production continues to improve.
However, they expressed concern that the economicrestructuring process in combination with shift to new growth model, raising productivityand economic competitiveness remains slow and below expectation.
Many expressed reserve about the fulfillment of the 6.7percent GDP growth goal, saying that there is not much ground for expanding domesticconsumption, foreign sector’s exports, manufacturing and processing in theremaining months.
NA Vice Chairman Uong Chu Luu said it is the first year thatall 13 socio-economic criteria would be met or surpassed.
He asked the government to explain to the legislature as towhich factors would help bring about the results and which resources couldensure a 6.7 percent growth.
The Vice Chairman also requested the Government to clarifywhy it is confident that State budget collection will meet target in 2017 whenthe domestic revenue only rose 2.1 percent from the estimate and revenues collected from State,foreign-invested and non-State enterprises failed to meet estimate.
NA Vice Chairman Do Ba Ty said in order to achieve a 6.7percent growth this year, the figure for the fourth quarter must hit 7.4-7.5percent, which is a challenging task. Moreover, disasters and floods will stillpose challenges to farming sector.
He asked the government to devise the most feasible plans tofulfill them.
On the socio-economic development plan for 2018, Ty requiredthe government to identify factors that can affect domestic production and freetrade agreements’ impacts on growth.-VNA
According to the government’s report, macro-economy has beenstabilised while inflation is kept below 4 percent. The gross domestic product(GDP) is estimated at 5,000 trillion VND or nearly 225 billion USD.
Based on the socio-economic development plan for 2016-2020adopted by the legislature, the projected performance of the economy in 2017and the domestic and international situation, the Government envisions that theGDP is expected to expand by 6.5-6.7 percent in 2018 and export turnover toincrease by 7-8 percent. The consumer price index would rise by an estimated 4percent and the total social investment would account for 33-34 percent of theGDP next year, according to the projection.
The majority of NA Standing Committee members shared theGovernment’s view that most major socio-economic development targets would becompleted this year, noting that the economy remains stable and the environmentfor business and production continues to improve.
However, they expressed concern that the economicrestructuring process in combination with shift to new growth model, raising productivityand economic competitiveness remains slow and below expectation.
Many expressed reserve about the fulfillment of the 6.7percent GDP growth goal, saying that there is not much ground for expanding domesticconsumption, foreign sector’s exports, manufacturing and processing in theremaining months.
NA Vice Chairman Uong Chu Luu said it is the first year thatall 13 socio-economic criteria would be met or surpassed.
He asked the government to explain to the legislature as towhich factors would help bring about the results and which resources couldensure a 6.7 percent growth.
The Vice Chairman also requested the Government to clarifywhy it is confident that State budget collection will meet target in 2017 whenthe domestic revenue only rose 2.1 percent from the estimate and revenues collected from State,foreign-invested and non-State enterprises failed to meet estimate.
NA Vice Chairman Do Ba Ty said in order to achieve a 6.7percent growth this year, the figure for the fourth quarter must hit 7.4-7.5percent, which is a challenging task. Moreover, disasters and floods will stillpose challenges to farming sector.
He asked the government to devise the most feasible plans tofulfill them.
On the socio-economic development plan for 2018, Ty requiredthe government to identify factors that can affect domestic production and freetrade agreements’ impacts on growth.-VNA
VNA
