(VOVworld) – The National Assembly Standing Committee’s seventh session concluded on Friday. Prior to the closing ceremony, the deputies discussed the Government’s reports on last year’s socio-economic and state budget development plans, and future tasks.

Chairman of the National Assembly Nguyen Sinh Hung (Source:gdtd.vn)

On the economy in the first quarter of this year, the report touched on the difficulties and challenges with the economic growth rate at 4 percent, lower than last year. It added that the interest rate is still high and enterprises’ access to capital is limited. However, the socio-economic situation saw some progress in the first quarter of the year thanks to measures to control inflation and stabilize the macro-economy. The export turnover increased by 25 percent while the Consumer Price Index gradually fell. The NA Economic Committee asked the Government to report to the NA on decisions and policies to suit the new situation. NA Chairman Nguyen Sinh Hung remarked: "The problem here is how to develop the economy properly, with priority given to key sectors, and use credit to maintain growth, while ensuring social welfare. We need to maintain the inflation rate to around 9 percent and a growth rate of 6 percent to the end of year to reach our set goal". 

At the closing ceremony, Mr. Hung said that the NA Standing Committee had completed creating new laws and supervising and solving the country’s most important issues. The project to restructure the economy in line with renovating growth models was also discussed at this session.