Gov’t persist in inflation curbing and macro-economic stabilization

The Government's regular meeting, Hà Nội, April 1, 2012 - Photo: VGP

PM Nguyễn Tấn Dũng stressed the point at a Government’s regular meeting held in Hà Nội from March 31 to April 1. 

The Cabinet held that in spite of numerous difficulties in the world economy, Việt Nam still saw positive and encouraging outcomes in inflation curbing, economic stabilization, growth and social welfare.

The target of keeping inflation at one digit is within reached amid falling interest rates and trade deficit and improving liquidity among others, the Government said.

PM Dũng, however, noted that challenges are lying ahead, noting a slowdown in GDP, and high input cost that has badly affected the processing and manufacturing industries.

He urged the State Bank of Việt Nam (SBV) to take drastic measures to reduce inflation to one digit, clear bad debts, ensure liquidity, handling banks with weak performance and keeping interest rates.

Ministries, agencies and localities are in charge of assisting enterprises in generating more jobs, expanding export markets, exercising thrift practice and ensuring social welfare.

The Government said it will tighten management over the import of nonessential goods.

Economic restructuring project

During the two day meeting, the Cabinet members also discussed draft Project on Economic Restructuring in combination with Growth Model Renovation with a view to improving the economy’s quality, effectiveness and competitiveness in the 2011-2014 period with a vision towards 2020.

PM Dũng requested his inferiors clearly define the targets and contents of economic restructuring as well as relevant solutions in order to finalize the draft project before submitting to the PM.

In terms of contents, views, orientations and key solutions for restructuring production industries and service, pushing up business restructuring process, developing knowledge-based economy must be clarified.

Economic restructuring and growth model renovation are not easy tasks. They must be deployed comprehensively in all ministries, sectors and localities, PM Dũng said. 

Economic restructuring must be combined with continued renovation and international economic integration, he added.

                                                                                                                                By Hương Giang

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