The Vietnamese government’s market management authorities have proposed four measures to curb increasing consumer price indexes in the remaining months of this year, Vietnam News Agency reported.
The government’s market authorities and the information advising committee under the Trade Ministry convened in northern border province of Lao Cai, agreeing with following measures:
1) The government of Vietnam should be resolute in taking measures to stop widespread epidemics, mitigate natural disasters, and maintain the balance of market supply and demand for goods.
2) The government needs to adopt timely financial measures in a bid to cool down growing CPI by tightening control over state budget revenue and spending allowed not to exceed 5 per cent of the country’s GDP and lift unnecessary fees in production and business and conduct a survey on production costs.
3) State Bank of Vietnam should adopt flexible monetary policies to stabilize CPI, basic interest rates of Vietnam dong and keep close a close eye on raising compulsory reserve fund of domestic banks.
4) The government must take measures to boost exports to narrow trade deficit.
Director General of the state-owned General Statistics Office, Le Manh Hung recently warned that the consumer price indexes (CPI) soared 5.2 per cent, up 7.8 per cent on year and 25 per cent compared with that in December last year.
Prime Minister Nguyen Tan Dung during the regular government meeting ordered that ministries and sectors try to achieve the country’s GDP growth rate of 9 per cent to ensure the full-year target of 8.5 per cent.
Vietnam’s GDP growth rate was based on rapid growth of construction and industry sectors and services with 9.88 per cent and 8.41 per cent, respectively, fuelled by foreign direct investments.
In the first half of this year, the country’s trade turnover was estimated to have reached roughly US$50 billion, up 25 per cent on year. However, the trade deficit reached US$4.78 billion, doubling that compared with that in 2006.
International tourist arrivals were estimated to have hit 2.11 million, up 14.7 per cent on year. (VNA)
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