Gov’t prioritises stabilision of inflation

VNGOP – The Government has announced it will take drastic measures to keep inflation below national economic growth and consider this to be its key task in the remaining months of this year.

July 27, 2007 7:07 AM GMT+7

Deputy Prime Minister Nguyễn Sinh Hùng has made the statement on the sidelines of the first meeting of the on-going 12th National Assembly in Hanoi.

Deputy PM Hùng said to rein in consumer price hikes, a balance must be struck between demand and supply of commodities items.

The deputy PM stressed the need for ensuring a sufficient supply of locally-made indispensable commodities and importing reserves in case they are in short supply in order to avoid hoarding of goods.

Finance Minister Vũ Văn Ninh said in the fist six months of this year, the consumer price index surged 5.2 percent in comparison with a 4 percent hike over the same period last year.

The Government will move to ensure balanced budget and money and commodity flows to stabilize the increase of the index as set out by the National Assembly, the Minister said.

He went on to say that for products, which are affected by world prices, such as oil, the Government will curb their prices hike by measures that include tax adjustments.

(Source: VNA)