Four ministries implement macro-economic management regulation
VGP – The Ministry of Planning and Investment (MoPI), the Ministry of Finance (MoF), the Ministry of Industry and Trade (MoIT) and the State Bank of Viet Nam (SBV) on December 17 held their first meeting to enforce the recently signed macro-economic management regulation.
December 18, 2014 3:43 PM GMT+7
Under the chair of MoPI Minister Bui Quang Vinh, the meeting focused on three topics including the management and regulation of macro-economic norms in Q1 and the whole year of 2015 and the formulation and cooperative mechanisms of relevant ministries, agencies and organizations.
Earlier, the regulation was inked on December 1, 2014 under the witness of PM Nguyen Tan Dung and other Government members.
The document aimed to realize Decision No.1317/QĐ-TTg, dated August 6, 2013 on approving the scheme on reforming the coordinating mechanism in managing and controlling the macro-economy, especially for the policies of finance, monetary, credit, investment, trade and prices.
The regulation stipulates that the MoPI is in charge of presiding over and assessing cooperative outcomes in managing macro-economic norms. Each ministry is responsible for establishing a coordinating team to conduct the regulation.
It also regulates cooperation in building and proposal of annual, medium and long term macro-economic orientations especially on economic growth rates, inflation, State budget collection, trade and consumption balance.
The four ministries are also in charge of cooperating; consulting and sharing informations with each other to compose, implement, supervise, evaluate, explain the implementation of policies on investment, resorce allocation, monetary, credit, trade, export and consumption.
Specifically, the MoPI chairs the building and management of economic growth focusing on GDP growth rate, total social investment, State credit, investment of all types of enterprises, PPP model and social consumption.
The SBV builds and manages inflation goals especially total credit growth of the economy, total means of payment, interest rate, balance of payment and exchange rates.
The MoF is responsible for fiscal policies including balance of buget collection and spending, State budget overspending, management of debts and foreign debt payment, public debts.
The MoIT is in charge of regulating domestic trade, export, import, trade balance, particularly the development of the domestic market, export-import and trade balace./.
By Huong Giang
