Economy stabilized, Gov’t says
17:01 | 24/07/2011

VGP – The national economy has been developing stably in the first seven months with key indictors on rise, the Cabinet members agreed at regular meeting on Sunday.

The Government continues to prioritize inflation curbing in the last months of 2011 - Photo: VGP

Specifically, the country’s export turnover reached over US $51 billion in the reviewed period, tripling the preset target.

The total retail sales of goods and services increase rapidly against the same period last year, according to the government’s report.

Moreover, industrial and agricultural production continued to record high growth rates, with July’s industrial production index rose by 9.6%.

In addition, consumer price index, rose 1.17% in July, is much lower than the figure in the first six months.

Regarding social welfare, a number of policies on such areas like poverty reduction, credit assistance to poor households, provision of medical insurance cards, school fees exemption for poor and ethnic households, and job creation have been fruitfully implemented.

Accordingly, over 850 million jobs were created, some 16.9 million tons of food and VND 9.2 billion were allocated to assist the poor in the first seven months.

The Government, however, noted that the country still faces an array of challenges, including complicated fluctuation of the world’s prices and domestic storm season in the second half of the year, making it difficult for the Government to control inflation and stabilize macro-economy.

The introduction of tightened monetary policy during the past months also caused some obstacles to businesses’ operations, particularly for small and medium-sized enterprises.

PM’s instructions

Concluding the meeting, PM Nguyễn Tấn Dũng requested ministries, sectors and localities to synchronously and effectively implement measures to control inflation, stabilize macro-economy and ensure social welfare while strive for reasonable economic growth rate.

Resources should be prioritized for improving the competitiveness of commodities, expanding export markets in a bid to reduce trade deficit.

The Ministry of Industry and Trade was asked to launch key power projects to ensure power for production and daily life.

Also at the meeting, the Cabinet members commented on a Report of the outcomes of the Government Working Rules’ implementation which were presented by Minister-Chairman of the Office of Government Nguyễn Xuân Phúc.

This is the last regular meeting of the 12th Government. PM Dũng suggested that the 13th Government should clarify functions and obligations of ministries, sectors to avoid overlapped missions; strongly renovate socio-economic forecast capacity.

The Government chief also urged ministries, sectors and localities to better update information for people. 

By Hải Minh

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