Gov’t keen on pursuing preset targets

VGP – The Government will be keen on reining in inflation and stabilizing macro-economy in the second half of 2012, concluded Prime Minister Nguyen Tan Dung at the Cabinet’s regular meeting on July 2-3.

July 03, 2012 5:26 PM GMT+7

Prime Minister Nguyen Tan Dung at the Government's regular meeting fromJuly 2-3 - Photo: VGP

The Government will also strive to achieve the growth rate of 5.2-5.7%, but not by all means, the Government chief affirmed.

Under the direction, Prime Minister Dung tasked the State bank of Vietnam to continue regulating tools of monetary policy in an active, flexible and effective manner; speeding up interest rate reduction in accordance with the decrease of consumer price index.

The central bank was requested to assess the realization of growth targets of the credit organizations and the whole banking system as well in order to put forward proper measures for credit regulation.

The Prime Minister also urged the central bank to quickly restructure weak commercial banks and unstop capital flow for businesses.

He asked inferior levels to focus on backing up production, prioritizing capital for agriculture, rural development, export-oriented production, supporting industries, small and medium-sized enterprises, labor-intensive enterprises.

The Ministry of Finance was asked to keep the budget over-expenditure under the figure set by the National Assembly, effectively combine fiscal and monetary policy in order to increase the country’s aggregate demand.

The Ministry needs to propose proper tax measures in a bid to encourage production; quickly review and allocate corresponding capital to beef up the implementation of ODA projects.

During the two-day meeting, the Cabinet members also discussed on the roadmap for corporate and value-added tax reduction; on draft strategy for national environmental protection through 2020 with vision to 2030.

By Ngoc Van