Deputy Prime Minister Le Minh Khai presented a report on the supplementary assessment of the results of the implementation of the socio -economic development plan and state budget in 2022; the implementation of the socio-economic development plan and state budget in the first months of 2023. Photo: An Dang/VNA
Achieved and exceeded 13/15 planned targets
The Deputy Prime Minister said that the socio-economic situation in the last months of the year continued to recover, contributing to the overall results of the whole year 2022. The comments and assessments that the Government reported to the National Assembly at the 4th Session were basically appropriate. In particular, in a very difficult context, we still achieved the goal of stabilizing the macro economy, controlling inflation, promoting growth, ensuring major balances of the economy; achieving and exceeding 13/15 planned targets.
In particular, many indicators are better than the numbers reported to the National Assembly, such as: GDP in 2022 increased by 8.02% (reported as 8%); GDP per capita reached 4,109 USD (reported as 4,075 USD); Average CPI increased by 3.15% (reported as about 4%); State budget revenue reached 1,815.5 trillion VND, higher than the reported number of 201.4 trillion VND (up 12.5%), promptly and fully meeting the tasks of development investment expenditure, implementing social security policies, salary reform and other urgent tasks.
Total export turnover reached 371.3 billion USD (reported as 368 billion USD); trade surplus reached over 12.4 billion USD (reported as about 1 billion USD). Total social investment capital reached 3,219.8 trillion VND (higher than reported by 18.3 trillion VND); realized foreign investment capital reached 22.4 billion USD, up 13.5% (reported as 6.4 - 11.5%). The indicators of public debt, government debt, and foreign debt of the country continued to decrease and were within safe limits (public debt ratio was 38% of GDP; government debt was 34.7% of GDP; foreign debt was 36.8% of GDP).
Cultural and social fields are focused on; social security is ensured; people's lives continue to improve. By the end of 2022, nearly 104.5 trillion VND had been supported for over 1.41 million employers and over 68.43 million workers facing difficulties...
However, our country still has limitations and difficulties; in which two targets have not been achieved as planned. Disbursement of public investment capital and implementation of a number of policies under the Socio-Economic Recovery and Development Program and 3 National Target Programs have not met requirements. Planning work is still slow. Many enterprises face difficulties in mobilizing and accessing capital, production and business costs increase, and export product markets are narrowed.
Macroeconomic fundamentals are stable.
Regarding the situation and results of the implementation of the socio-economic development plan in the first months of 2023, the Government's Report clearly stated that the world situation continues to fluctuate rapidly, complicatedly, and unpredictably, affecting and influencing most countries and regions globally. Domestically, opportunities, advantages, difficulties, and challenges are intertwined, but the latter are more difficult and challenging. Meanwhile, the inherent limitations and shortcomings of the economy that have lasted for many years have become more evident in difficult conditions such as the real estate market, corporate bonds, weak banks, etc.
In that context, the macro economy is basically stable, inflation is controlled, growth is promoted, and major balances are ensured. In very difficult conditions, GDP in the first quarter still maintained growth momentum but not high, only reaching 3.32% compared to the same period. The consumer price index (CPI) tends to decrease, with an average increase of 3.84% in the first 4 months.
The monetary, credit and foreign exchange markets are basically stable; interest rates continue to decline, with average lending rates decreasing by 0.7% compared to the end of 2022. Liquidity of the banking system is guaranteed; non-cash payments have achieved positive results. State budget revenue in the first 4 months is estimated at 632.5 trillion VND, equal to 39% of the annual estimate; trade surplus of 7.56 billion USD (trade surplus of 2.25 billion USD in the same period). Disbursement of public investment capital increased by 15 trillion VND over the same period.
In addition, trade and services continued to grow strongly; total retail sales of goods and consumer service revenue in the first 4 months increased by 12.8%; attracting 3.7 million international visitors. Prestigious international organizations continue to assess and forecast positively about Vietnam's economic prospects in 2023 and the coming time.
The Government continues to effectively implement policies for people with revolutionary contributions, social protection, and social security. The labor market is focused on development; strengthening the connection between labor supply and demand, supporting workers in finding jobs; paying attention to developing social housing, issuing a project to build at least 1 million apartments for low-income people and industrial park workers, and actively implementing a credit package of 120 trillion VND.
Cultural and social fields are focused on. High-performance sports continue to be promoted; in particular, the Vietnamese delegation achieved the highest result at the 32nd SEA Games....
Regarding law-making and improvement, the Government organized 4 thematic meetings on law-making in the first 4 months of 2023, a total of 16 sessions since the beginning of the term; directed the preparation of 20 draft laws and ordinances to serve the 2nd Extraordinary Session and the 5th Session of the 15th National Assembly; focused on reviewing, amending, supplementing, and promulgating legal documents within its authority, contributing to removing difficulties and promoting socio-economic development. National defense and security were consolidated; social order and safety were ensured.
Production and business activities face many difficulties
However, the Government Report stated that GDP growth in the first quarter of 2023 (reaching 3.32%) was lower than the same period last year (5.03%). In particular, many localities had low industrial production growth, some even had negative growth compared to the same period last year. Production and business activities faced many difficulties, especially in the industrial, construction and small and medium-sized enterprise sectors. Our large and traditional export markets were narrowed; many businesses lacked orders.
State budget revenue tends to decrease. Although the absolute number increased, the disbursement rate of public investment capital in the first 4 months only reached 15.65% of the yearly plan, lower than the same period (18.48%). Newly registered FDI capital decreased by 17.9%, implemented capital decreased by 1.2%. The total number of newly established and resuming enterprises decreased; the number of enterprises temporarily suspending operations and dissolving increased.
Despite many efforts to reform administrative procedures and improve the investment and business environment, they have not yet met requirements. Due to accumulated shortcomings over many years, the corporate bond and real estate markets continue to face difficulties in liquidity and cash flow. The implementation of some policies of the three National Target Programs and the 2% interest rate support policy under the Socio-Economic Recovery and Development Program has been slow.
The quality of labor at times and in some places does not meet market demand; there are cases of workers losing their jobs in some localities and industrial zones; the number of workers withdrawing social insurance at one time continues to increase. There are still cases of school violence and child abuse causing public outrage.
Regarding the causes, the Deputy Prime Minister said that the above limitations and shortcomings have both objective and subjective causes. The main reason is that the world economic and political situation is changing rapidly, complicatedly, and unpredictably, with many unprecedented developments that exceed forecasts, causing difficulties and creating great pressure on the direction and management work.
The long-standing shortcomings and weaknesses of the economy have only now gradually become apparent in difficult conditions, especially in the weak real estate, corporate bond, and banking markets. Analysis, forecasting, and policy responses in some cases are not yet timely and effective. A number of officials and civil servants are not yet resolute, timely, and sensitive, and there is also a mentality of avoidance, fear of responsibility, shirking responsibility, and fear of making mistakes...
Strictly handle officials who are afraid of mistakes and responsibility
The Government believes that the world situation in the coming time is forecast to continue to be complicated and unpredictable, with heavy impacts and influences on many areas. The economy continues to suffer from a “double impact” from negative external factors and internal limitations and shortcomings that have lasted for many years.
That context requires all levels, sectors and localities to make efforts to overcome difficulties, overcome limitations and shortcomings, strongly promote growth drivers, mobilize and effectively use all resources, and continue to focus on resolutely, synchronously and effectively implementing the set tasks and solutions.
In particular, the Government determined to continue to consistently implement the goal of maintaining macroeconomic stability, controlling inflation, promoting growth, ensuring major balances of the economy; grasping the situation, strengthening analysis and forecasting, promptly issuing appropriate and effective policies, avoiding being passive, surprised about strategy, and sudden changes in status. At the same time, continuing to resolutely and effectively implement the Socio-Economic Recovery and Development Program; focusing on growth drivers (consumption, investment, export); making good use of opportunities and creating new development space.
The next solution is to implement a firm, proactive, flexible, timely, effective monetary policy, in synchronous coordination with a reasonable, focused, and key expansionary fiscal policy; flexibly and appropriately manage exchange rates and interest rates; focus on directing the banking system to reduce costs, strive to continue reducing lending interest rates; ensure liquidity of the credit institution system...
The Government will further promote the work of building and perfecting institutions and improving the effectiveness and efficiency of law enforcement; review and remove shortcomings in mechanisms, policies and laws; focus on absorbing and perfecting the draft Land Law (amended); tighten discipline and order; improve public service ethics; continue to perfect the apparatus, streamline the payroll; implement the salary reform roadmap. In particular, urgently perfect the mechanism to encourage and protect dynamic, creative cadres who dare to think, dare to do, dare to make breakthroughs for the common good; strictly handle cadres who are afraid of making mistakes, afraid of responsibility, shirking responsibility, and evading when performing public duties.
In addition, promote disbursement of public investment capital, striving for a disbursement rate of at least 95% in 2023; actively remove difficulties and develop the real estate and social housing markets.
The Government focuses on preventing, combating and controlling the COVID-19 epidemic and other epidemics; resolutely removing difficulties and resolving obstacles in bidding and purchasing medicines, supplies and medical equipment; organizing the high school graduation exam and university and college entrance exams in 2023 seriously, safely and effectively...
Emphasizing that the task of implementing the socio-economic development plan in the coming time is very heavy, the Deputy Prime Minister said that we must make more efforts, continue to promote the strength of national solidarity, the spirit of innovation, creativity, self-reliance, and consolidate and strengthen people's trust in the Party and the State. "Inheriting and promoting the achieved results and the participation of the entire political system, we will definitely continue to recover quickly, develop the socio-economy sustainably, ensure national defense, security and deep, substantive and effective international integration, and fulfill the highest goals and tasks set for 2023, contributing to the implementation of the 5-year plan 2021 - 2025 according to the Resolutions of the Party and the National Assembly", the Deputy Prime Minister affirmed.
Source: VNA/Tin Tuc Newspaper
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