Strengthening the drivers to promote growth

At the ongoing 7th session, the National Assembly listened to the Report on the supplementary assessment of the results of the implementation of the 2023 Socio-Economic Development Plan; the implementation of the 2024 Socio-Economic Development Plan...

Note the major bottlenecks of the economy

Regarding the implementation of the socio-economic development plan in the first months of 2024, Deputy Prime Minister Le Minh Khai said that, implementing the Central Committee's Conclusion, the Resolution of the National Assembly, the Government; the Government, the Prime Minister has directed all levels, sectors, and localities to focus on implementing Resolution No. 01, 02 and the Resolutions of the Government, striving to best complete the goals of the 2024 socio-economic development plan.

Industrial production recovery is still slow

The focus is on perfecting institutions and policy mechanisms; renewing traditional growth drivers and effectively exploiting new growth drivers; promoting disbursement of public investment capital, national target programs, promoting exports, stimulating domestic consumption; saving state budget expenditures; ensuring electricity and gasoline supply; developing tourism; handling long-standing backlog issues; promoting national digital transformation.

The Government and the Prime Minister have also worked with localities to remove difficulties and promote socio-economic development; directly inspect and urge important and key national projects and works in the spirit of "three shifts, four shifts", "overcoming the sun, overcoming the rain", "working through holidays, Tet holidays", "only discussing work, not discussing back", determined to complete as soon as possible with the highest quality. The Government commented: In general, the socio-economic situation in the first months of 2024 continued to change positively, achieving many better results than the same period in 2023 in all fields; the macro-economy was basically stable, inflation was controlled, major balances were ensured...

Regarding the existing problems, limitations, difficulties and challenges, Deputy Prime Minister Le Minh Khai affirmed that the pressure to direct and manage the macro economy is still high. Although economic growth has achieved good results, it still faces many challenges. Production and business activities of enterprises and people have encountered many difficulties. Industrial production has recovered slowly. Agricultural production, especially in the Mekong Delta, has encountered many difficulties due to prolonged drought and saltwater intrusion.

In addition, the real estate market is recovering slowly, the progress of implementing the 120 trillion VND social housing loan package has not met requirements. The progress of some expressway, key traffic and site clearance projects is still slow. Some mechanisms, policies, regulations and administrative procedures are still overlapping, cumbersome and slow to be amended...

Deputy Prime Minister Le Minh Khai said that in the coming time, difficulties, challenges, opportunities and advantages will intertwine, with more difficulties and challenges, requiring us to be more determined, make greater efforts, take more drastic actions, accelerate and make breakthroughs to successfully complete the socio-economic development goals for 2024 and the 5-year Plan for 2021 - 2025.

Deputy Prime Minister Le Minh Khai also outlined 11 groups of tasks and solutions to be implemented in the coming time. Priority will be given to promoting growth associated with stabilizing the macro economy, controlling inflation, ensuring major balances of the economy; At the same time, focusing on effectively and substantially restructuring the economy associated with renewing the growth model, improving productivity, quality, efficiency and competitiveness.

Strengthening endogenous capacity, promoting growth

Presenting the Inspection Report, Chairman of the National Assembly's Economic Committee Vu Hong Thanh further noted that economic growth has a tendency to decrease gradually over time, the quality of economic growth is still low and slow to improve. Economic growth in 2023 will not reach the target, creating a huge challenge for the growth target for the 2021-2025 period.

Regarding 2024, the Chairman of the Economic Committee said that the world situation in 2024 will continue to have complex and unpredictable developments. Meanwhile, 2024 is a "sprint" year, which is very important in successfully implementing the Resolution of the 13th National Party Congress and the Resolution of the National Assembly on the 5-year Socio-Economic Development Plan 2021-2025.

To complete the economic growth target and other targets and tasks according to the Resolution on the Socio-Economic Development Plan for 2024 and other resolutions of the National Assembly, in the remaining months of 2024, the Government needs to continue to effectively implement the main tasks and solutions according to the Resolution of the National Assembly on the Socio-Economic Development Plan for 2024.

The Chairman of the Economic Committee emphasized a number of priorities in macroeconomic management. Specifically, it is necessary to strengthen endogenous capacity, promote rapid and sustainable economic growth; stabilize the macro economy, ensure major balances of the economy; control inflation and exchange rates to prevent shocks affecting people's lives, production, business, import and export. Improve the capacity for analysis, forecasting, and timely and effective policy responses. Continue to restructure the economy, innovate the growth model; consolidate, maintain the role and renew the main growth drivers, traditional growth drivers, and promote new growth drivers.

In addition, there needs to be effective solutions to remove bottlenecks in labor productivity; promote conversion, use of clean energy, digital transformation, application of science and technology; quickly and effectively implement the Planning and Implementation Plan of the 8th Power Plan. Ensure the supply of essential goods, especially electricity and gasoline, to prevent the recurrence of power shortages that affect production, business and people's lives.

In addition, it is necessary to continue to operate monetary policy proactively, flexibly, promptly and effectively. Maintain stable liquidity and ensure the safety of the banking system; resolutely and effectively implement the Project on restructuring credit institutions associated with handling bad debts and handling weak banks; have fundamental and sustainable solutions to direct cash flow back to production and business, continue to have solutions to reduce lending interest rates. Strengthen management and supervision of the stock market, corporate bonds, real estate along with solutions to stabilize and promote the development of markets, strengthen investors' confidence. Harmoniously coordinate monetary policy and fiscal policy in the goal of promoting economic growth.

In addition, it is necessary to strengthen management, combat revenue loss, transfer pricing, and trade fraud; actively collect tax debts; manage expenditures closely following the budget, economically and effectively, allocating resources to key national projects, reforming wages and social security; proactively control and respond to risks, ensuring balance of the State budget, overspending, and public debt; and save to combat waste and negativity in the management and use of the State budget.

Source: https://thoibaonganhang.vn/cung-co-cac-dong-luc-de-thuc-day-tang-truong-151887.html