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Inflation curbing, economic stability top Gov’t agenda

VGP – The Government will continue focusing on curbing inflation and maintaining macro-economic stability in 2012 to realize socio-economic development and State budget goals set for the year.

December 22, 2011 8:04 PM GMT+7

Deputy Prime Minister Vũ Văn Ninh presents the Government’s draft resolution on key measures to fulfill the socio-economic development plan and state budget for 2012, Hà Nội, December 22, 2011 – Photo: VGP/Nhật Bắc

This is part of the Government’s draft resolution on key measures to fulfill the socio-economic development plan and state budget for 2012. The resolution was presented by Deputy Prime Minister Vũ Văn Ninh on December 22 in Hà Nội.

The Government proposed key indicators for 2012, including a GDP growth rate of 6-6.5%; a CPI  of less than 10%; an export turnover rise of 13%; a trade gap accounting for 11-12% of export turnover; a social development investment share in GDP of around 33.5%; a budget overspending of 4.8% of GDP; the generation of around 1.6 million jobs and a poverty reduction rate of 2%.

Seven groups of key solutions

The Government fundamentally agreed to the draft resolution, especially the seven groups of key solutions as followed:

The top and leading group will focus on inflation curbing and macro-economic stability. Synchronous measures include the application of a tight and cautious monetary policy, a close and effective fiscal policy, strengthening the market and price control; encouraging exports, controlling imports and shrinking trade gap;

Secondly, to gather resources to make breakthroughs in restructuring the economy and renovating the growth model toward higher efficiency and better competitiveness;

Thirdly, to improve the quality of manpower, speed up scientific and technological applications, raise the quality of education and training;

Fourthly, to ensure social welfare and sustainable poverty reduction, create jobs, improve healthcare services, and better cultural and spiritual lives for people;

Fifthly, to strengthen the prevention of natural disasters and response to climate change, protect the environment, advance the exploitation and consumption of natural resources towards sustainable growth;

Sixthly, to speed up the administrative reform, enhance the state management capacity, practise thrift, and combat waste and corruption. 

Seventhly, to reinforce national defense, ensure security and social order and boost diplomatic activities.

After consulting comments sent from Cabinet members and local leaders, the Government will finalize the draft resolution for issuance by late December, 2011./.  

By Hương Giang