Curbing inflation high on NA agenda

Party General Secretary and National Assembly (NA) Chairman Nguyen Phu Trong called for more effort to meet and exceed targets set for 2011, with priority on curbing inflation, stabilizing the macro-economy and ensuring social welfare.

Party General Secretary and National Assembly Chairman Nguyen Phu Trong speaks at the opening of the 9th session of the 12th National Assembly in Hanoi on March 21 (Photo: SGGP)

He made the statement at the opening ceremony of the ninth and last session of the 12th NA in Hanoi on March 21.
 
Chairman Trong said that there were greater difficulties and challenges ahead, so a higher determination and more drastic measures were needed in management and implementation of tasks to reach and exceed targets set for 2011 by the NA.
 
He said there remained shortcomings in operations of state organizations and agencies, which needed to be reviewed seriously to draw experience and to improve for more effective operations in the next term.
 
The chairman said that the session will discuss and analyze in depth both local and global situations, advantages and difficulties, propose and also supplement economic solutions.
 
He asked deputies to heighten their sense of responsibility and focus their time, energy and intelligence on contributing valuable insight during the session.
 
Addressing the meeting, Mr. Trong also praised the political system, enterprises and the people for their endeavor in the implementation of the socio-economic plan in 2010 and during the first months of 2011.

National Assembly's members attent the openning of the last session of the 12th NA.

He said it was due to their endeavors that the country continues to post moderate economic growth. It is also the reason why social welfare is ensured, defense and social security is stable, and the country’s position in the region as well as the world is continually being enhanced.
 
After the opening note, NA deputies heard a supplementary report on the country’s implementation of the 2010 socio-economic development plan and preview of the 2011 plan.
 
According to the report, the nation achieved or outdid 16  of the total 21 targets set in the 2010 socio-economic development plan, including economic growth, export turnover growth, social development investment, job placement and the settlement of polluting enterprises.

However, the report also pointed to the sharp increase in consumer price index (CPI) in the fourth quarter of 2010, making the annual CPI rise much higher than predicted.
 
The GDP growth in the first quarter of 2011 is estimated to reach 5.5 percent, while the CPI in the first quarter is forecast to rise 6 percent.
 
Deputy PM Hung said that the CPI has soared sharply while fuel and power prices have been hiked, causing more difficulty for the country’s economy.
 
He admitted that together with inflation, high interest rates, unstable foreign exchange rates and rising gold prices there has been a great impact on the economic growth and business and production activities, causing insecurity in the macro-economy and in people’s lives.

Deputy PM Hung affirmed that curbing inflation, stabilizing the macro-economy and ensuring social welfare will continue to be the major tasks of this year, with a focus on five economic solutions.
 
These include tight currency policies, tight financial policies, reduction in public investment and stage budget, promotion of production and business, encouragement of export, curbing of trade deficit, saving of energy and an adjustment of energy and power prices with assistance to poor households.
 
The NA also heard reports reviewing and assessing the accomplishments during the 2007-2011 terms of the 12th NA, the State President, the Government, the Prime Minister, the chief Judge of the Supreme People’s Court and the Head of the Supreme People’s Procurer.

Regarding law, the eight-day session is expected to consider and pass four bills, including the Law on Independent Auditing, the Law on Prevention of Human Trafficking, the Law in the Capital City and amendments to the Civil Litigation Code.

By staff writers – Translated by Hoang Yen

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