PM orders continuity of anti-inflation fight
PM Dung
chaired a cabinet meeting in Hanoi on March 15 to receive how the
Government’s resolution No. 11/NQ-CP on major solutions to rein in
inflation, stabilise the macro-economy and ensure social welfare has
been carried out since it was made public on February 24, 2011.
He
pointed out that the situation in the world was complicated in the
first quarter of the year and Vietnam would meet with further
complexities on its course so it required all ministries, sectors and
localities to make all-out efforts to avert difficulties and challenges.
The
Government asked the Ministry of Industry and Trade to work with other
ministries and localities to fully tap the country’s agricultural
advantages, to drastically boost exports in the wake of the soaring
prices of food and foodstuff in the world market so as to reduce the
trade deficit.
PM Dung required the ministries, sectors and
localities to stringently control public investment, cease unnecessary
expenditures, and exercise economical moves in the use of electricity.
The
ministries, sectors and localities need to continue managing prices on
the market to prevent speculation and shortages of commodities,
especially essential ones, according to the PM.
They also need to
focus on publicising information on the Government’s financial,
monetary, and bank interest rate policies to help the people gain
correct and thorough understanding of what the Government has done.
Twenty
days after being put into practice, resolution No. 11 brought initial
positive effects to the national economy, prominent being a 29.7 percent
rise in export value (18.8 billion USD) in the first quarter of this
year, which tripled the goal approved by the National Assembly.
The monetary market was also stable with lendings increasing 3.41 percent.
The
majority of the cabinet members agreed that interest rates and gold
prices on the market were more stable after the State Bank of Vietnam
announced measures relating to the interest rate, exchange rate and
gold trading.
However, they said they were concerned about uneven
macroeconomic performance, high lending interest rates and fluctuating
prices, as they have affected production and the people’s life.
They
proposed ministries, sectors and localities should adopt specific
action plans to interpret resolution 11, proactively dealing with issues
arising within areas of their competence or immediately referring them
to the Government for handling these matters promptly./.