Govt asks parliament to lower growth targets
On October 24, the government asked the National Assembly to lower economic growth targets over the next four years after encountering difficulties that resulted in failure to meet the target set for last fiscal year. Prime Minister Thongloun Sisoulith presented the proposal at the second ordinary session of parliament’s 8th Legislature, which opened on October 24. Under the proposed plan, economic growth targets have been revised to 7 percent for 2017 and 2018, with a slight increase to 7.3 percent in 2019, rising further to 7.5 percent in 2020. On average, the annual growth target over the next four years will be 7.2 percent, which is less than the annual average target of at least 7.5 percent set in the five-year National Socio-economic Development Plan for 2016-2020. Through thorough and objective analysis and discussions at the plenary meetings of the Central Party Committee and Politburo, the government has recognised the need to ask [the NA] to revise the macro targets, Mr Thongloun told NA members.
