Ministries take measures to stabilize market

Illustration photo by VNGOP

To control CPI in the last six months at 2.3-3 percent (increasing by 0.4-0.5 percent monthly), the Ministry of Trade (MoT) and the Ministry of Finance (MoF) have proposed six solutions to stabilize the market:

Firstly, the Government continues to direct ministries, sectors, local authorities and businesses to speed up production; eradicate animal and crop epidemics; prevent natural calamities and minimize their impacts; and balance the demand and supply of primary goods at proper prices in any circumstance;

Secondly, the MoF takes financial measures to reduce prices and create competition by strictly controlling budget collection-expenditure and maintaining the budget over-expenditure at 5 percent of GDP; tighten the management over stock markets; control cost prices and selling prices of important products and services while kicking off the roadmap of electricity selling price decrease since July 1, 2008 and supervising fuel prices;

Thirdly, the State Bank continues to realize monetary policies in a cautious and flexible way to stabilize exchange rate and major interest rates of Vietnamese currency; closely monitor all impacts caused by the increase of compulsory reserve of bank deposit;

Fourthly, the MoT promotes export and reduce import and trade gap; well organizes market activities to maintain commodity circulation; control the market to balance the demand and supply of primary goods; and tighten market management;

Fifthly, ministries, sectors, local authorities, associations and businesses check all commodity planning schemes, renew technologies, reduce costs to lower production and business prices;

Sixthly, chairpersons of provincial-level People's Committees direct local sectors to enhance price stabilization; check goods quality and punish all illegal price increases.

By Nguyên Hồ