Tuesday, August 22, 2017 - 2:51:26

PM reiterates inflation control

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The Government’s central task by the year-end is to continue implementing drastically and effectively Resolution No. 11 on curbing inflation, stabilising the macro economy and ensuring social security in combination with economic restructuring.

Prime Minister Nguyen Tan Dung made the affirmation while meeting with more than 30 local economic experts and scientists in Hanoi on August 20 to consult with them on macroeconomic policies, especially financial and monetary policies, in the context of the world’s complicated developments.

According to experts, the challenging world economy with unsettled public debts in Europe and economic difficulties of the US and Asia has strongly influenced on the Vietnamese economy, hindering it from reaching the set growth and inflation control goals.

They said that the country recorded initial positive results in socio-economic performance in the first seven months of the year such as decreasing inflation, increasing exports, stable foreign exchange rate as well as increases in industrial production and service values and in the number of foreign tourist arrivals.

However, they noted that the foundation of the macro economy is yet to be improved remarkably as inflation and interest rates remain high, foreign currency reserves, though added more, are not strong enough and bad debts in the banking system tend to increase.

They also suggested a number of immediate and long-term measures to deal with these issues, with the immediate one bring to continue implementing a tightened monetary policy, cutting down public investment and closely controlling the real estate market.

Concluding the working session, PM Dung spoke highly of the experts’ frank, responsible and constructive suggestions for the national economic stabilisation and development.

He said that the Government, ministries, branches and institutes will keep them constantly updated with emerging developments, improve forecasting capacity and renovate statistical work, thus putting forth more suitable and effective macro policies./.
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