Inflation fight urged to gather strength

Curbing inflation and stabilizing macroeconomy remain top priority - Photo: VGP

At the meeting, which was held on November 30 to December 1, the PM asked the State Bank of Việt Nam to closely coordinate with ministries, sectors and localities to implement strict but flexible monetary policy, considering the move as a decisive factor in containing inflation and maintaining an economic growth.

In the short term, the central bank must work to gradually decrease interest rates, prioritize credits for production and business development, agriculture, rural development, export, supporting industry, small and medium enterprises…

Ministries, sectors and localities should accelerate the implementation of and capital disbursement of projects using state budget and funds from government bonds which are going to complete.

They should also strengthen control over trade deficit (striving to maintain the deficit rate of 10% in 2012 as in 2011), restrict imports of luxury and unnecessary goods or items that can be made domestically, and foster exports…

PM Nguyễn Tấn Dũng instructed these agencies, especially the Ministries of Industry and Trade, and Agriculture and Rural Development, to ensure goods supply meet demand to prevent product shortages and price hikes, especially during the Lunar New Year Festival.

Regarding the restructuring schemes for investment, state-owned enterprises and commercial banks, PM Nguyễn Tấn Dũng asked relevant ministries and sectors to perfect the schemes, basing on recommendations of cabinet members, ministries and localities nationwide.

Thanks to the implementation of measures to curb inflation, stabilize macro-economy and ensure social security, Việt Nam made progress in socioeconomic development in the first 11 months of this year. Export turnover rose 34.7% year on year and CPI was kept at 18.62%. GDP this year was estimated to grow at some 6%. 

By Ngọc Vân