Prime Minister Nguyen Tan Dung has asked ministries, branches andlocalities to continue to synchronously implement inflation curbingmeasures, in order to stabilise the macro economy and ensure jobs andlife for labourers.
At the regular cabinet meeting in Hanoion March 30, PM Dung also requested these agencies strictly implementsocial security policies, especially for poor people, beneficiaries ofsocial welfare and wage earners, and to urgently build policies forlow-income workers.
Cabinet members agreed to the FinanceMinistry's proposal to provide allowances for low-income earners andsmall and medium-sized enterprises, due to the pressure of price hikes.
At the meeting, which discussed the socio-economicsituation in March and the first quarter of 2011 and reviewed theimplementation of Government Resolution No. 11/NQ-CP, PM Dung called onthe State Bank of Vietnam (SBV) to closely manage interest rates and forbanks to reduce profit and cut down expenditure in order to lowerlending interest rates.
He also instructed the SBV toissue regulations on foreign currency management, following a directionto reduce foreign currency lending, and ensure foreign currency supplycould meet people’s demand as well as preserve a foreign currencyreserve, including ensuring enough foreign currency for petrol imports.
Cabinet members said during the three-month period,ministries, branches and localities performed budget expense tightening,cut down public investment and implemented measures to supportproduction, encourage exports and ensure social security.
Thanksto this progress, industrial production increased 14.2 percent year onyear, agricultural production was up 3.5 percent, budget collectionsaccounted for 21.2 percent of the year’s estimates (the highest levelfor the period over the last three years), foreign investment increased1.6 percent, and exports rose by 33.7 percent, bringing the GDPgrowth rate to 5.43 percent.
According to Minister ofPlanning and Investment Vo Hong Phuc, 30 ministries and centralagencies, 63 provinces and cities, 12 economic groups and State-runcorporations reported the cut of 1,387 projects worth nearly 3.4trillion VND.
However, cabinet members said that politicalinsecurity in the Middle East and North African countries, thepressure of price increases of goods on world markets and input pricesof power, coal and petrol on the domestic market will cause difficultiesin the efforts to curb inflation.
In March the consumerprice index rose by 6.12 percent from last December, resulting in a12.79 percent increase year-on-year in the first quarter./.
At the regular cabinet meeting in Hanoion March 30, PM Dung also requested these agencies strictly implementsocial security policies, especially for poor people, beneficiaries ofsocial welfare and wage earners, and to urgently build policies forlow-income workers.
Cabinet members agreed to the FinanceMinistry's proposal to provide allowances for low-income earners andsmall and medium-sized enterprises, due to the pressure of price hikes.
At the meeting, which discussed the socio-economicsituation in March and the first quarter of 2011 and reviewed theimplementation of Government Resolution No. 11/NQ-CP, PM Dung called onthe State Bank of Vietnam (SBV) to closely manage interest rates and forbanks to reduce profit and cut down expenditure in order to lowerlending interest rates.
He also instructed the SBV toissue regulations on foreign currency management, following a directionto reduce foreign currency lending, and ensure foreign currency supplycould meet people’s demand as well as preserve a foreign currencyreserve, including ensuring enough foreign currency for petrol imports.
Cabinet members said during the three-month period,ministries, branches and localities performed budget expense tightening,cut down public investment and implemented measures to supportproduction, encourage exports and ensure social security.
Thanksto this progress, industrial production increased 14.2 percent year onyear, agricultural production was up 3.5 percent, budget collectionsaccounted for 21.2 percent of the year’s estimates (the highest levelfor the period over the last three years), foreign investment increased1.6 percent, and exports rose by 33.7 percent, bringing the GDPgrowth rate to 5.43 percent.
According to Minister ofPlanning and Investment Vo Hong Phuc, 30 ministries and centralagencies, 63 provinces and cities, 12 economic groups and State-runcorporations reported the cut of 1,387 projects worth nearly 3.4trillion VND.
However, cabinet members said that politicalinsecurity in the Middle East and North African countries, thepressure of price increases of goods on world markets and input pricesof power, coal and petrol on the domestic market will cause difficultiesin the efforts to curb inflation.
In March the consumerprice index rose by 6.12 percent from last December, resulting in a12.79 percent increase year-on-year in the first quarter./.
