PM calls for securing single digit inflation

PM Nguyen Tan Dung stressed controlling inflation at a single digit for 2012.
Prime Minister Nguyen Tan Dung laid stress on controlling inflation at asingle digit as one of urgent tasks to be drastically addressed to helpthe country maintain a reasonable growth of around 6 percent for thewhole year.

Chairing the Government’s Januarymeeting in Hanoi on Feb. 4, the Government chief continued urgingministries and localities to work harder to stablise the macro economyand implement policies on social welfare, security and defence.

To achieve these goals, the Government leader urged the State Bank tocontinue carrying out a flexible monetary policy to ensure theliquidity of the banking system while handling banks with weakperformance, gradually reducing interest rates and keeping foreignexchange rate stable.

The prices of coal, electricity and petroleum will be regulated in line with market prices and set roadmap, he said.

According to the PM, ministries and localities should prioritiseagricultural and seafood production to maximise the country’s advantagesalong with removing difficulties for industrial production andrestructuring public investment.

They need toeffectively implement target programmes on poverty reduction, especiallyin areas inhabited by ethnic minority people as well as vocationaltraining and epidemic control programmes, pay attention to speeding upParty building work, administrative reform and corruption prevention,personnel work, and safeguarding security and defence.

PM Dung noted positive socio-economic changes recorded in Januarywhen the entire country had a long Lunar New Year holiday, mentioning asufficient supply of commodities, stable prices of essential goods,secured security and defence, and a decrease in traffic accidents.

However, the Prime Minister pointed to problems arisen during thereviewed month, including low growths in industrial production, exportsand investment.

According to Cabinet members, tofulfil socio-economic development tasks for 2012, the ministries andlocalities should focus on solving difficulties for businesses,especially small- and medium-sized enterprises, and increasing theiraccess to capital sources.

They voiced concernsabout traffic safety, the roadmap of regulating petrol prices undermarket rules, nomadic life of ethnic minority people, vocationaltraining and job generation for young rural people, health care servicesat the grassroots level, sustainable poverty reduction and security andorder.

In January, Consumer Price Index (CPI)grew 1 percent, the lowest level recorded during Tet in the past tenyears. Security and social order were maintained during the time.However, freezing cold in the first month of 2012 affected agriculturalproduction in the northern region.

At the meeting,Cabinet members discussed a draft report summing up the implementationof the 1992 Constitution, and revisions to some articles of the Tax Lawand the Law on Natural Minerals./.

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