“The standards of monetary and credit policies cannot be lowered. Setting the bar low can only solve the issue immediately but would not be good over the long term,” said Chairman of the National Assembly Vuong Dinh Hue during the October 16 session of the National Assembly’s Standing Committee discussing the socio-economic situation in 2023 and the draft plan for 2024. Assessing the performance of the socio-economic tasks in 2023, the Government asserted in its report that the economy “continues to be a bright spot amid the not-so-bright picture of the global economy.” Based on the results of the performance in the first nine months, the Government projected that it would reach and exceed at least 10 out of 15 targets in 2023, with the achievement of all social targets. However, among the five unachieved targets, there are some important targets which reflect the quality of economic growth such as labor productivity and the proportion of the processing and manufacturing industries in GDP. This is also the third consecutive year that labor productivity growth has failed to reach the target. In addition, the GDP in the first nine months increased by 4.24%, only higher than the nine-month growth of 2.19% […]