HANOI, July 23 (Xinhua) -- Vietnamese parliamentary chief Nguyen Thi Kim Ngan on Saturday said the country's legislature body will control public debt and closely monitor the implementation of environmental protection policies in economic development.
Talking with press and media agencies in Vietnam's capital Hanoi on Saturday, Ngan said the National Assembly (NA) of Vietnam has set a ceiling for public debt of under 65 percent of Gross Domestic Product (GDP) and government debt under 50 percent of GDP. However, government debt is breaching the limit by 0.3 percent.
At present, Vietnamese public debt is under the limit, but the country is facing difficulties in payment, and even has to make new loans for debt payment, Ngan said.
The 14th NA is determining to control public debt and re-define the calculation of public debt. The NA has been adjusting loan structure from short term to medium and long term loans in order to reduce the pressure of payment, Ngan said.
Vietnam will strive to bring public debt and budget deficit to a safe level, Ngan told reporters.
Answering reporters' inquiries over the responsibilities of NA in supervising the implementation of environmental protection policies during operation of businesses, the Vietnamese top legislator said this is included in the oversight activities of the NA.
Vietnam does not pursue growth at all costs, Ngan said while mentioning the incident of mass fish deaths in the country's central localities recently which was caused by the discharge of waste water with toxic exceeding allowed level into the sea by Formosa Ha Tinh Steel Corporation.
Formosa is a lesson for Vietnam to review all investment projects as well as policies in investment attraction in the future, Ngan told reporters.
Vietnam commenced the 14th NA for 2016-2021 tenure on Wednesday. Nguyen Thi Kim Ngan was re-elected to be Chairwoman of the 14th NA on Friday.
