Vietnam Set to Control 14 Essential Goods to Curb Inflation
The government of Vietnam said on its Web site Tuesday that it has just issued a decree to stabilize 14 essential goods and beef up combating speculators in order to reduce inflation.
The 14 essentials are petroleum products, cement, construction steel, liquefied gas, fertilizer, rice, insecticide, veterinary medicines, bird flue vaccines, medicines, salt, milk, sugar, railway ticket and animal breeds, the government said.
Besides, it will decide prices of 18 categories of state-owned properties, commodities and services which are land, waters, forest, electricity and water.
Depending on specific economic situation, the government will adjust prices of essentials periodically.
The government also said it will clamp down on speculators.
Meanwhile, the State Bank of Vietnam, the central bank on Tuesday decided to raise base rate to 14 per cent from 12 per cent and the forex rate.
In late May, the government said that it will compensate up to VND44 trillion (US$.75 billion) for the entire economy to overcome economic difficulties and curb galloping inflation hitting 25.2 per cent in May from a year ago. (Government Website, News)
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