According to the report, for the 2016-2020 period, the government while continue to maintain macro-economic stability while striving for higher economic growth than in previous years. The government is targeting average GDP growth over the next five years of 6.5-7 per cent per year while simultaneously restructuring the economy.
Assessing the results made through the past 5 years, the report comfirmed that modest inflation and macroeconomic stability were among the prominent achievements.
The nation’s socio-economic situation over the past 5 years continued to recover with numerous positive results. Macro-economy was essentially stabilised while business environment has been improved.
International integration marks a milestone. The country has received positive support from the international community in defending its rights in the East Sea issues, aiming at resolving maritime issues by peaceful measures based on international law.
The government leader also pointed to shortcomings and difficulties in the country’s socio-economic situation.
Therefore, some important indicators have been set out for the next 5 years. Among which, budget overspending will be restricted to 4% of GDP.
The National Assembly will discuss the report during Thursday’s session.
