Deputy Prime Minister Vuong Dinh Hue says that keeping inflation rate below 4 percent is feasible.(Photo: VNA)
Hanoi (VNA) – The consumer price index (CPI) in 2018 is forecast torise by 3.41 percent, 3.55 percent and 3.9 percent under the scenarios createdby the aide group of the Government’s Steering Committee on Price Management.
The growthlevels are below the benchmark of 4 percent set by the National Assembly.
“Stabilising the macro-economy coupled with addressing the increase in theprices of public services, the target of keeping inflation rate under 4 percentthis year is achievable”, Deputy Prime Minister Vuong Dinh Hue, who headed theGovernment’s Steering Committee on Price Management, affirmed at a meeting onMarch 27.
Hue ordered ministries and sectors to follow the scenario of the CPI growthrate of 3.55 percent to take specific measures and solutions.
He affirmedthat the Government will accomplish the task of controlling the inflation rateto the set target with support of the experience in management and coordinationin steering work over prices of commodities of ministries and sectors.
The StateBank of Vietnam was asked to run a flexible monetary policy, manage credit flowin both volume and quality, continue sterilised intervention measures onforeign exchange as well as put forth equitisation of state-owned enterprises.
The Ministry of Agriculture and Rural Development is requested to keep a closewatch on the demand for agricultural products, helping stabilise the market andexpand export markets. It should join hands with relevant ministries andbranches to build prices of the non-public irrigation products and services.
Meanwhile, the Ministry of Industry and Trade in collaboration with theMinistry of Finance should manage the fuel stabilisation fund in an efficientway and stabilise domestic oil and gas market. They must work to set up thespecial consumption tax for E5 petrol to encourage the trading of this bio-fuelproduct. In addition, media works should be given priority to raise publicawareness of power savings.
The Ministry of Health should make careful adjustment in the medical servicesand study to issue a circular on bidding for pharmaceutical productsprocurement and management of medical supplies.
Evaluation on current tuition fees must be conducted by the Ministry ofEducation and Training and the Ministry of Labour, Invalids and Social Affairs.In the meantime, the Ministry of Transport must continue to examine allprojects and complete negotiations with investors and banks to lower fees atBOT toll stations.
The CPI in the first three months of the year picked up 2.82 percent againstthe same time last year. The surge was spurred by the hikes in food prices, educationcosts and power prices.-VNA
VNA
