Vietnam to Rein Inflation to Secure Economic Stability: PM Dung
Vietnamese Prime Minister Nguyen Tan Dung urged ministries, and sectors and localities to focus on measures to prevent high inflation and boost production activities to secure macro-economic stability.
Dung made the request at the two-day regular cabinet meeting ended Mar 3 in Hanoi, where he predicted the local economy to grow faster, led by higher expansion of industrial production and service sectors.
The PM also called for tightening control over prices of primary goods such as electricity and fuel and tougher speculation prevention to stabilize the domestic market after a 6.8% rise in power prices from March.
The State Bank of Vietnam must flexibly apply monetary policies to control the total liquidity, credit growth and dollar exchange rate, Dung demanded, requiring a boost to exports to curtail the country’s trade gap while curbing imports of non-essential goods.
Dung requested ministries and localities to mobilize all resources for industrial and agricultural production after the Lunar New Year festival in an effort to promote socio-economic development by the year-end.
A report from the Ministry of Planning and Investment showed that the industrial production value rose by 13.6% on-year in the first two months year despite the week-long traditional festival.
Export turnover reached US$8.913 billion only while import turnover was estimated at US$10.658 billion, leading to a high trade deficit of US$1.745 billion or 19.6% of the total export turnover.
The consumer price index (CPI) went up 3.35% in Jan-Feb period and 8.46% from a year earlier. (chinhphu.vn)
Vietnamese
