(VOVworld) - NA deputies on Wednesday debated the state budget estimates for 2012 and the budget breakdown for 2013 at the ongoing 4^th session of the 13^th National Assembly. This year’s state budget collection is likely to go as planned. The budget overspending stands at 4.8% of GDP as set by the National Assembly and similar to next year’s estimates. Several deputies suggested cutting public spending amidst the ongoing economic difficulties. Danh Ut is a deputy from Kien Giang province: “I agree that in the 16 national target programs, the government needs to cut 13 joint-projects saving about 75 million USD, which will be allocated to poor and especially disadvantaged communes and districts. Costs for the administrative sector need to be reduced.”

In the morning, deputies discussed this year’s socio-economic situation and development plans for next year. The participants agreed that the top priorities now are inflation control, macro economic stabilization, and assuring social security. Besides restructuring the economy and resolving bad debts, the deputies asked the Government to rescue businesses and further invest in agriculture and education. Mai Thi Anh Tuyet is a NA deputy from An Giang province: "The Government needs to take synchronous measures with priority given to supporting production sector, dealing with inventories, and utilizing markets. Banks should rescue businesses by continuing to provide loans and reducing the interest rate to 11 percent. It is necessary to invest and develop high technology to improve the productivity of  agriculture. The Government should set up models of enterprises that are specialized in high-tech agriculture".

Today, Government members responded to questions from NA deputies and the public. Deputy Prime Minister Hoang Trung Hai answered questions regarding the Song Tranh 2 hydro-power project in Quang Nam province. Hai said that due to a recent earthquake in the province, water accumulation will be stopped at the hydropower plant and further observation will be made to safeguard lives and property: "Quang Nam province’s People’s Committee informed people about how to protect themselves while maintaining production and normal lives when earthquakes occur. Contingency plans for a worst-case scenario of a dam breaking have been worked out. The Government will continue to urge Ministries and sectors to make assessments and take proper measures to assure safety for this project".

Finance Minister Vuong Dinh Hue

The same day, Minister of Finance Vuong Dinh Hue explained issues relating to taxes, prices, inflation control, bank interest rates and salary reform. Minister of Construction Trinh Dinh Dung highlighted resolving problems in the real estate market.