Deputy PM urges plans on reduction of taxes

Hanoi (VNA) – The Ministry of Finance needs to coordinate with other agencies to research and report a plan on gasoline tax reduction to the Government, the Prime Minister and competent agencies for approval, Deputy Prime Minister Le Minh Khai, head of the National Financial and Monetary Policy Advisory Council, said on July 12.

Plans on cutting other tariffs should also be taken into consideration, the official told a meeting of the council.

Reviewing the country’s economic development in the first half of this year, the Deputy PM noted that the national economy would recover faster in the remaining months.

However, risks and challenges still remain, given soaring gasoline and material prices and inflation pressure, he warned.

Khai, therefore, stressed the need to maintain macro-economic stability, control inflation, ensure major economic balances, and accelerate the disbursement of public investments and the implementation of the socio-economic recovery and development programme, while managing financial and monetary policies.

He asked ministries and agencies to keep a close watch on domestic, regional and international situation, particularly inflation and the prices of important materials, and the adjustment of the State’s policies to update and perfect management plans and scenarios.

The State Bank of Vietnam (SBV) should flexibly roll out monetary tools and policies in combination with suitable fiscal policies and other macro ones to tame inflation.

The finance ministry and the central bank were asked to continue with solutions to stabilise and develop the stock market, corporate bonds and the monetary market in a healthy, effective and safety manner.

The Deputy PM also assigned the Ministry of Industry and Trade to coordinate with other agencies and localities to keep an eye on market developments, espeicially oil and gas, and production materials, ensure the supply-demand balance, and regulate gasoline prices./.