KPL
(KPL) The first plenary session of the National Assembly’s (NA) 8th Legislature officially wrapped up last Friday with great achievements and approving several important issues of national development to graduate from least developed country status.
Over the next five years (2016-2020), the annual economic growth rate has been set at not less than 7.5 percent
Singkham
(KPL) The first plenary session of the National Assembly’s (NA) 8th Legislature officially wrapped up last Friday with great achievements and approving several important issues of national development to graduate from least developed country status.
During the three-day session (20-22 April), high positions of the state, including Head of State, NA President and Prime Minister were appointed, according to NA President, Mrs Pany Yathortou.
She said that the session approved the next five years of the socio-economic development plan, the State Budget Plan (2016-2020), Vision 2030, Strategy (2016-2025), State Budget Adjustment Plan for fiscal year 2015-2016, the five-year development plan of the NA, and the law making and amending plan.
At the first day of the session, Party Secretary General Mr BounnhangVorachit was voted as the President of the Lao PDR, Ms PanyYathotou was re-elected to a second term as President of the National Assembly, and Mr Thongloun Sisoulith was elected as the new Prime Minister, according to the report.
Permanent Member of the Party Central Committee Secretariat Mr Phankham Viphavanh was elected Vice President of the Lao PDR.
The National Assembly also approved the election of Mr Bounthong Chitmany, Mr Sonexay Siphandone, and Mr Somdy Duangdy as Deputy Prime Ministers.
Four Vice NA Presidents were also elected namely Mr Somphanh Phengkhammy who was re-elected, Lt. Gen. Sengnuan Sayalath, Mr Bounpone Bouttanavong, and Ms Sisay Leudethmounsone.
Mr Khamsane Souvong and Mr Khamphanh Sitthidampha were re-elected as President and Head of Office of the Supreme People's Prosecutor and President of the Supreme People's Court respectively.
New members of the Government Cabinet and Standing Committee of the NA’s 8th Legislature were also appointed.
Over the next five years, the annual economic growth rate has been set at not less than 7.5 percent.
At the same time, the government aims to collect revenue reaching 19-20 per cent and make expenditures of around 25 per cent of gross domestic product.
Meanwhile, the National Assembly approved the government's proposal to cut the revenue target from the planned 26,159 billion kip to 23,700 billion kip and to cut planned expenditures from 31,946 billion to 31,118 billion kip.
In addition, the NA also approved the proposal to make and amend 105 laws over the next five years.
KPL
