Minister of Planning and Investment: Maintain a 5% annual GDP growth target.
DNHN - Minister of Planning and Investment Nguyen Chi Dung emphasised that the Government will not adjust the GDP target for 2023 because the common spirit is the highest level of determination to achieve this year's goal
At the 27th meeting of the National Assembly Standing Committee, Minister of Planning and Investment (MPI) Nguyen Chi Dung stated, about the content of socio-economic development, that from the beginning of the 15th term to the present, the National Assembly has always accompanied and created the most favourable conditions for the Government.
In particular, the National Assembly not only eliminates institutional obstacles and hurdles but also creates favourable conditions for the Government's implementation, such as in the socioeconomic recovery process and policy mechanisms. There is currently timely and effective support.
The Government Report clearly states that GDP growth in 2023 is expected to reach approximately 5%, which, while lower than the target (approximately 6.5%), is still quite high compared to many countries around the world. territories and regions. The average consumer price index for the year is estimated to be approximately 3.5%, significantly lower than the target of approximately 4.5%.
Regarding the plan's objectives and goals, the Report identifies the following as the primary objectives: There are 15 primary objectives in the socioeconomic and environmental fields. GDP per capita reaches approximately 4,700 - 4,730 USD; the proportion of processing and manufacturing industry in GDP reaches approximately 24.1%-24.2%; the average growth rate of the consumer price index (CPI) is 4-4.5%; the average growth rate of social labour productivity is 4.8%-5.0%...
About the 2023 GDP growth target of over 5%, the Minister of Planning and Investment stated that, in comparison to the global situation as a whole, this is an encouraging and commendable result. Minister Nguyen Chi Dung emphasised that the Government did not adjust the target because the highest level of determination to achieve this year's target is the common spirit and that the Government is concentrating on directing implementation.
Minister Nguyen Chi Dung disclosed that the government and ministries will strive to achieve the following significant objectives: growth rate and GDP per capita, proportion of industry and processing. generated in GDP or labour productivity, agricultural labour's proportion of total social labour.
During the meeting, Chairman of the National Assembly's Economic Committee Vu Hong Thanh stated that, due to the delayed impact of solutions from economic support policies that have been continuously implemented since the start of 2022, and with the close, timely, and scientific leadership and direction of the Central Government, the National Assembly and the National Assembly Standing Committee will strengthen close, timely, and effective supervision and coordination. The Standing Economic Committee concurs with numerous forecasts that economic growth in 2024 and 2025 will be stronger than in 2023.
According to the Resolution of the National Assembly, achieving an average growth rate of 6.5% to 7% for the period 2021-2025, which is higher than the average growth rate for the five years 2016-2020 (6.25%), is an extremely difficult task, especially in light of the extremely complex and unpredictable global situation.
In addition, achieving certain objectives, such as GDP per capita targets, the proportion of processing and manufacturing industries, the average social labour productivity growth rate, the urbanisation rate, the proportion of trained workers with degrees and certificates, and the health insurance participation rate, will be exceedingly difficult without more innovative solutions.
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