NA approves 8.3 percent economic growth next fiscal year

Published on July 17, 2012

The National Assembly (NA) has approved the socio-economic development plan for the 2012-2013 fiscal year which seeks economic growth of 8.3 percent and GDP amounting to 80,720 billion kip.

The three-week long Third Ordinary Session (June 20-July 13) of the NA’s 7th legislature which closed yesterday also approved a summary report on the implementation of the 2011-2012 national socio-economic development plan presented by the government.

NA members endorsed the 2011-2012 report, the Head of the NA’s Administrative Office, Dr Ounkeo Vouthilath, told local media at a press conference after the closing ceremony.

The session also approved the state budget for the next fiscal year, which requires the collection of 19,571 billion kip in revenue and expenditure of 23,413 billion kip.

The NA also adopted the report on the implementation of the state budget for 2009-2010 and suggested that the State Audit Organisation continue to re-investigate the budget imbalance of 94.83 billion kip and later report to the NA, Dr Ounkeo said.

Seven laws were approved during the session, including two new laws – the Law on Offender Extradition and the Law on Laws (principles for drafting legal documents). Five other laws were amended – on Civil Case Procedure, Criminal Case Procedure, Physical Sport, State Assets and State Audit.

Assembly members approved the 2011-2012 report of law enforcement agencies and their plans for the 2012-2013 fiscal year which require the People’s Courts to successfully resolve 90 percent of all cases. In addition, the Ministry of Justice will ensure implementation of 60-70 percent of the courts’ verdicts.

The session approved a report on the performance of the NA over the past year as well as plans for the next year until the 5th session, which will seek to approve 20 more new or amended laws.

In her closing remarks, NA President Ms Pany Yathortou praised the government for its efforts in implementing socio-economic development plans and achieving targets, resulting in steady economic growth, social stability and the improvement of people’s livelihoods.

However, Ms Pany said the session had outlined areas where it felt the government could do more to boost sustainable economic gro wth.

She asked the government to attach greater importance to resolving issues of concern, particularly strengthening and broadening the one-stop application service, which she said is currently a relatively slow process.

Ms Pany suggested that the government put measures in place for the better protection of the environment especially in some mining projects where they were sorely needed, as well as better management of logging and land use. The government was also asked to maximise the use of sustainable natural resources.

The government was asked to address corruption and counter drug abuse among other issues which “people are asking us to put measures in place to effectively address and bring about a clear change,” she said.

She asked the government to pursue all the targets approved in the NA’s 3rd session, to ensure steady economic growth paving the way to achieving the Millennium Development Goals.

Vice President Bounnhang Vorachit, Prime Minister Thongsing Thammavong and members of the government cabinet attended the closing ceremony.

Source: Vientiane Times
July 17, 2012