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Resolutions on socio-economic development, state budget estimate adopted

The eighth session of the 13th National Assembly adopted resolutions on the socio-economic development plan and the state budget estimate for 2015 with a majority of votes on November 10.
The eighth session of the13th National Assembly adopted resolutions on the socio-economicdevelopment plan and the state budget estimate for 2015 with a majorityof votes on November 10.

With 89.54 percent of votes in favour,the resolution on the socio-economic development plan for 2015 waspassed, focusing on the enhancement of macro-economic stability and theremoval of obstacles for businesses and production.

Itprioritises the acceleration of administrative reform; the fight againstcorruption and wastefulness; strengthening defence-security;safeguarding national sovereignty; and maintaining political and socialorder and safety.

🦹 The resolution sets a number of socio-economictargets, including a GDP growth rate of 6.2 percent, a total exportvalue growth rate of 10 percent, a consumer good index (CPI) increase of5 percent, and an increased social development capital of 30-32percent. 

The proportion of poor households will be reduced by1.7-2 percent; 1.6 million jobs will be created; unemployment in urbanareas will be lowered to less than 4 percent; skilled labourers willaccount for 50 percent of the workforce; and the rate of malnutrition inchildren under the age of five will be less than 15 percent.

In the resolution, the NA calls for the effective implementation ofstrategic breakthroughs; the restructuring of the economy in accordancewith the transformed growth model; improving the quality, effectivenessand competitiveness of products, businesses and the economy; reformingadministrative procedures; accelerating the settlement of bad debts;and ensuring social welfare.

On the same day, the resolution on the state budget estimate for 2015 was approved with 88.13 percent of votes.

Accordingly,the budget revenue is projected at 921 trillion VND, while spendingwill be 1,147.1 trillion VND. This translates into a deficit of 226trillion VND, equivalent to 5 percent of GDP.

The resolutioncalls on the government to pursue a tight fiscal policy, while strictlymanaging spending to prevent wastefulness and corruption and promotingcareful spending.

🌸 Later that day, lawmakers discussed the revised enterprise law.-VNA

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