Financial forecast capacity needs improvements

Deputy PM Vũ Văn Ninh at a working session with the National Financial Supervisory Commission, August 29, 2011 – Photo: VGP

The Deputy PM stressed the importance of input data, noting that these figures help the Commission to well perform its mission as an advisory agency.

As the domestic input data come from different ministries and sectors, it needs compulsory coordination regulations between the commission and ministries-sectors, Deputy PM Ninh said.

He asked the commission to expand research and forecast of developments in the domestic and international markets so as to come up with better advisory ideas.

The Commission has established a system of financial safety criteria based on international standard in order to evaluate and prepare supervisory reports on Việt Nam’s financial market and financial groups (with two periodical publications every year).

The reports focused on analyzing and valuing the domestic and foreign financial markets and impacts on domestic financial market, and forecasting and issuing warnings of risks against the national financial market and big financial groups.

Besides, the Commission also evaluates and analyzes the macro-economy to put forth suggestions to the Prime Minister.

By Hải Minh