Gov’t determines to control inflation

VGP – The Government once again highlighted its determination to keep CPI at the set level of around 8% for the whole year of 2012, despite the fact that prices of some commodities are expected to go up in the time to come, especially during the traditional Lunar New Year holiday.

November 29, 2012 6:37 PM GMT+7

Leaders of the Government in the regular November meeting, Ha Noi, November 29, 2012 - Photo: VGP/Nhat Bac

The Government made the decision at its regular November meeting held in Ha Noi on November 29.

Thanks to various measures, including the PM’s Directive 25/CT-TTg dated September 26, the growth rate of CPI continued to drop down from 2.2% in September to 0.85% in October and 0.47% this month, according to a report presented at the meeting.

In the time to come, to secure the inflation control, it is necessary to promote production and business activities, said many Cabinet members.

Minister of Agriculture and Rural Development Cao Duc Phat proposed assistance to aquaculture and husbandry in order to guarantee food supplies in the coming holiday.

Emphasizing agriculture as a great advantage of the country, Deputy PM Vu Van Ninh underlined the need to design a detail agriculture development plan for 2013, which covers irrigation planning, processing and consumption, and market expansion for agricultural products.

Concluding the meeting, PM Nguyen Tan Dung continued to emphasize inflation control, macroeconomic stabilization, social security guaranteeing, and production and business enhancement in order to achieve a proper growth rate, fulfill socio-economic targets of 2012 and create a driving force for 2013.

The Government chief urged ministries and agencies to strictly manage prices of primary goods, such as medicines, milk, fuels, and food.

He also mentioned the reduction of interest rate as a practical way to rein in inflation while facilitating business activities.

PM Dung asked his inferiors to boost the disbursement of investment capital sources as well as closely monitor quality, schedule and efficiency of public investments.

To prepare for the upcoming Lunar New Year holiday, the PM required ministries, agencies and localities to secure abundant supplies of goods, tighten their management over quality of goods, propose welfare policies to help the poor, and take measures guarantee social order and safety.

At the meeting, the Government also discussed the Plan on renewing coordination in macro-economic management in the period of 2012–2020, the master plan on economic restructuring, the Bill on thrift practice and anti-prodigality (amended), and the Bill to revise the Residence Law.

CPI in November	up 0.47%
Total export turnover in 11 months Total import turnover	Over US$ 104 billion, up 18.4% compared to the same period of 2011 US$103.98 billion, up 6.8%
Indicator of industrial production (IIP) in Nov.	up 4.8% against Sept. and 6.7% against the same period
International arrivals in 11 months	Over 6 million, up 11.4% against the same period
Job generation in 11 months Guest workers going abroad	Over 1.39 million (86.9% of the year plan) 72,500 or 85% of the year plan

By Xuan Hoang