PM Nguyen Tan Dung presents the Government's report at the National Assembly's Q&A session, Ha Noi, November 21, 2013 - Photo: VGP

The Government will pursue synchronous monetary and fiscal policies in favor of businesses, inflation control and macro-economic stabilization both at short and long-term, he said.

The Government will also speed up the reform of institutions, administrative procedures, and business environment to create foundations for sustainable development.

Budget overspending will be kept around 5.3% of the gross domestic product (equivalent to VND 224 trillion) and the Government plans to issue additional Government bonds worth VND 170 trillion for the 2014-2016 period.

The additional mobilized capital will be spent on key socio-economic infrastructure development projects as well as agriculture and rural development.

PM Dung said that Viet Nam’s public debt will not exceed 65% of the gross domestic product between 2014 and 2016. The Government commits to managing and using loans effectively, he added.

The Government will strive to settle all the current non-performing loans by the end of 2015, according to PM Dung.

Regarding economic restructuring, PM Dung said the Government will focus on improving the efficiency of the State-owned enterprises, accelerate equitization, and reduce the number of State-owned enterprises./.

By Hai Minh