Vietnam will cut its gross domestic product (GDP) growth target to seven percent this year from initial goal of 8.5-9 percent due to unfavorable changes in the international and domestic market, said a local official Monday.

During the third session of the 12th National Assembly (NA) of Vietnam opening on May 6, the country's top legislature is scheduled to consider the cut, vice head of the NA's office Nguyen Si Dung said at a press briefing here Monday.

However, Vietnam will strive to post GDP growth higher than seven percent this year, he said, noting that the country's major task is to curb inflation hike, remain stable macroeconomic development, and ensure social welfare and stable development.

During the one-month session, the legislature is also scheduled to examine reports of the government on the implementation of the socioeconomic tasks, and the state budget of 2007, and decide the tasks and the budget of 2008, the implementation of a pilot study to allow foreigner's procurement and ownership of properties in Vietnam and some other important issues.

Besides, it is expected to approve 13 bills, including laws on management and utilization of state assets, asset procurement and requisition, and atomic energy, and comment on seven other bills, including laws on nationality, public service, high technology and health insurance.