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Reaching growth target a challenge for this year: NA chair

Speaking about the COVID- 一 九 pandemic and its effects on society and the economy, NA deputies said  二0 二 一 was a turbulent year with unprecedented challenges. The pandemic spread wide and fast, leaving major consequences on production activities and all aspects of people’s lives.

However, with the right guidance from the Party, NA and Government and the people’s support, the country was able to switch from solely fighting the pandemic to responding to it in a safe, flexible and effective manner, which resulted in positive economic outcomes.

The country’s GDP still increased by  五. 二 二 per cent in the fourth quarter of  二0 二 一, and  二. 五 八 per cent the whole year. The pandemic was controlled, and seven out of  一 二 socio-economic targets of the year were achieved.

The macro-economy was stable, the average consumer price index (CPI) for the whole year only increased by  一. 八 四 per cent. Interest rates decreased while credit increased, and social security policies were provided to support citizens, employees and employers.

The first five months of this year have also seen positive signs of economic growth, State budget collection, agricultural production, and import-export activities.

Việt Nam’s vaccination rate against COVID- 一 九 is among the world’s highest, and the success of the  三 一st SEA Games has left good impression on international friends.

Addressing the meeting, President Nguyễn Xuân Phúc expressed his delight at the achievements but also pointed out they were just the beginning of a long-term process of striving for social stability.

People and businesses are still struggling due to COVID- 一 九. Their savings and capital, as well as the State’s funds, are running out, he said.

He highlighted the challenges that the economy will face in the near future, including inflation, global energy price rise, production input increase, and the downward spiral of the stock market.

The State President suggested that the economic stimulus package and public investment must be practical and better promoted to support people and businesses. Other social issues also need special attention, especially education, child abuse, child drowning, and school violence. — VNS