GDP in 2024 is estimated to reach 6,8-7%

Achieve and exceed 14/15 targets

Reporting at the meeting, Minister Ministry of Planning and Investment Nguyen Chi Dung said, based on the results of 8 month, it is estimated that 2024 will achieve and exceed 14/15 main targets for the whole year; including achieving and exceeding all social targets, achieving the target of average social labor productivity growth rate after 3 year which was not achieved.

According to Mr. Dung, economic growth is higher than the set target. Economy The macro economy is basically stable, inflation is controlled, major balances are ensured, state budget deficit is controlled, public debt, debt Goverment much lower than the allowed target. The GDP growth rate in the following quarter is higher than the previous quarter, the whole year is estimated at about 6,8-7%, exceeding the target. Congress proposed (6-6,5%), among the few high growth countries in the region, world and highly appreciated by international organizations.

However, according to the Government's report, macroeconomic stability still has potential risks, especially from external factors such as inflation and exchange rates. Credit growth is not high. The pressure to repay corporate bonds due is high. Production and business activities face many difficulties. Domestic purchasing power shows signs of slowing down. Trade surplus still depends on the FDI sector. Emerging industries and sectors have not really changed clearly, and there is a risk of not being able to catch up with the world without breakthrough mechanisms and policies. The lives of a segment of the population are still difficult.

Reviewing the Government's report, the National Assembly's Economic Committee said that the country's socio-economic situation in 2024 still faced a number of difficulties and challenges. According to Mr. Vu Hong Thanh - Chairman of the National Assembly's Economic Committee, the Standing Committee of the Economic Committee suggested paying more attention and assessing a number of issues. Accordingly, the total demand recovery was weak, in which consumer demand increased lower than expected in the context of inflation under more pressure in the last months of the year, public investment and private investment increased slowly. There were still 31/44 ministries, central agencies and 28/63 localities with the disbursement rate of public investment capital 8 in the first month of 2024 below the national average.

In addition, production and business activities of enterprises still face many difficulties. In the first 9 months of 2024, an average of 18,2 thousand enterprises withdrew from the market per month. The ratio of enterprises withdrawing from the market to enterprises entering and re-entering the market in the first 9 months of 2024 was 89,7%, higher than the 79,3% in 2023. Credit growth in the first months of the year is still low, the ability of enterprises to absorb capital and access credit capital is still limited.

According to Mr. Thanh, the real estate market has shown signs of recovery but is still facing difficulties. The imbalanced product structure in the market has pushed up the prices of apartments in the primary and secondary segments, making it difficult for those with real housing needs to access. Land prices in inner-city and suburban districts Ha Noi has shown signs of rapid increase again, especially for districts with information about becoming districts. In particular, recently, the situation of "abandoning deposits" after winning the auction has recurred, negatively affecting the price level and the housing market. "The situation of monopolization, price inflation, creating waves, land speculation pushing up land prices makes buying and selling almost only take place among speculators while making it difficult for people and businesses to access land because the land price is high, beyond their ability to pay" - the Economic Committee stated.

Along with that, the shortage of medicine continues. The situation of overcharging at the beginning of the school year still occurs. Recently, public opinion has been stirred up by the case of "fake students, real degrees" at the highest level of training; however, the state management agency on education There have been no satisfactory, public, and transparent measures to deal with the situation. Accidents, injuries, and child abuse still occur, including serious cases of child abuse and violence, causing public outrage. Corruption and economic crimes continue to have complicated developments.

Pay attention to the gold market, real estate, education...

Ms. Le Thi Nga, Chairwoman of the National Assembly's Judicial Committee, said that in the coming time, the Government needs to pay attention to the gold market because it has many potential risks. Accordingly, it is necessary to continue to manage and rectify the gold market to ensure that the domestic and international markets are close to each other. In addition, the real estate market is currently very complicated, apartment prices are increasing very high, and people in need have difficulty accessing the real estate market due to high apartment prices. It is recommended that the Government strengthen management of the real estate market.

According to Ms. Nga, the crime situation is complicated, especially fraud on social networks. Therefore, the Government needs to strengthen propaganda and management to make people vigilant against fraud on social networks. Violence and child abuse are still complicated, it is necessary to propagate and correct the responsibilities of agencies related to child protection. Traffic accidents and fires occur frequently, more attention needs to be paid to this issue because many cases involve the lives of many people. "The situation of corruption and corruption crimes is complicated and sophisticated. Recently, the fight has been very good, but prevention solutions need to be focused on more" - Ms. Nga pointed out.

According to Mr. Le Quang Huy - Chairman of the National Assembly's Committee on Science, Technology and Environment, in the coming time, the Government needs to pay attention to circular economy, green economy, digital economy. Especially domestic carbon credits when imported goods into the EU will be subject to tax. Therefore, ministries, branches and enterprises must be prepared to take the lead. The increase in average labor productivity growth rate is quite fast. Therefore, it is necessary to evaluate the rapid increase due to capital investment, labor, or science and technology, economic restructuring.

Mr. Nguyen Dac Vinh - Chairman of the National Assembly's Committee on Culture and Education suggested that it is necessary to pay attention to managing the quality of education when there are specific incidents, and to consider whether the quality of education management is good or not? "When something happens, we pay more attention to evaluating and analyzing whether the management has followed the correct procedures or not? Just focus on the procedures and amend the regulations. Meanwhile, the enforcers are not strict. Therefore, the education sector needs to quickly rectify this issue" - Mr. Vinh said.

Still many worries

Speaking at the meeting, President of Congress Tran Thanh Man believes that the socio-economic situation in the year 2024 achieved 14/15 target, which is a good thing. The growth rate for the whole year is estimated at 6,8-7%, exceeding the resolution set by the National Assembly. Growth is thanks to strong development of exports and industrial production, not revenue from land. In addition, foreign investment increased.

However, according to the National Assembly Chairman, the socio-economic situation still has many concerns. Accordingly, the issuance of documents detailing the implementation of the Law has not been on schedule. For example, the Land Law, Housing Law, and Real Estate Business Law committed to the National Assembly in July 2024 that they could complete the implementation guidance documents. But up to now, there are still 12 localities that have not issued any documents, and the issuance is not synchronous. Therefore, the Government needs to give strong direction to remove difficulties for localities.

According to the National Assembly Chairman, the banking and financial situation has fluctuated. The real estate market still has many shortcomings. Through monitoring the implementation of legal policies on the real estate market and social housing, many problems have been found. The labor market is unbalanced in supply and demand, and is localized. The natural disaster situation is still complicated.

From there, in terms of solutions, the National Assembly Chairman proposed to strengthen the adjustment of fiscal policies more appropriately and effectively in 2025 to face global challenges. Prevent the downward trend of the real estate market, supply exceeds demand, there is demand but no ability to pay, construction is done but there are no residents in big cities.

The National Assembly Chairman also proposed creating conditions for people and businesses to borrow capital to develop production and business. In the first 9 months of the year, savings deposits increased, but how to create conditions for people and businesses to borrow capital for production and business? Create favorable conditions for businesses, especially private businesses. There are land projects that have not been resolved for many years while the locality has not been determined to solve the problem for businesses.

From the opinions raised by voters, the National Assembly Chairman suggested that from now until the end of the year and the whole year of 2025, it is necessary to improve the quality of teaching and learning so that parents do not have to complain. At the same time, improve health and medical examination and treatment for the people. People are looking forward to new policies and administrative reforms in the newly passed Law on Medical Examination and Treatment.

"

According to Ms. Nguyen Thuy Anh, Chairwoman of the National Assembly's Social Committee, there is still a shortage of drugs, especially the expanded vaccination rate continues to fall short of the target of over 90%. Therefore, it is necessary to assess the difference between the delay and infectious diseases. In addition to the increasing number of non-communicable diseases, infectious diseases are also developing complicatedly, with the risk of outbreaks in some localities such as measles and diphtheria. Therefore, it is necessary to further assess the difference between the delay in vaccines and the increase in infectious diseases in children due to the lack of vaccines.