THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Continue to curb inflation and maintain growth in the rest months, says PM
VGP – Presiding over the Government’s regular meeting on September 29-30, PM Nguyễn Tấn Dũng emphasized that, in the last quarter, the Government, ministries, sectors and local authorities must focus on priorities of reining in inflation, stabilizing macro-economy, ensuring social security and proper growth.
September 30, 2008 7:00 PM GMT+7
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PM Nguyễn Tấn Dũng chairs the Government’s September meeting - Photo: VGP
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Facing the unpredictable changes of the global finance, PM Dũng ordered the State Bank, Ministry of Finance, Ministry of Planning and Investment, and other competent agencies to closely monitor the situations and forecast possible impacts on the national economy, so as to be able to adopt timely solutions.
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The Government chief stressed that, in the last three months, all ministries, sectors and localities should drastically implement the eight solutions put forth by the Government, especially monetary tightening policies.
It is necessary to back enterprises, especially medium and small ones, in buying exports and accessing to capital sources.
The PM assigned the Ministry of Industry and Trade to ensure the demand-supply balance of goods, particularly materials for production activities; prevent and fight against smuggling, speculation, trade frauds; supervise the enforcement of legal documents on price stabilization.
The PM also highlighted thrift practice, public expenditure cut, administrative procedures reform, anti-corruption, and policies on social security.
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Domestic positive socio-economic changes
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Some difficulties
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- GDP growth rate (nine months): 6.52%
- CPI (September): up 0.18% over August
- Total export turnover (nine months): US $48.58 billion, up 39%
- Trade gap (September): US $500 million, the lowest figure in the nine months
- Total FDI (nine months): US $57 billion, four time higher than the same period of 2007. Capital disbursement: US $8.1 billion, up 37%
- Rice output (2008): around 38.6 million tons (2.6 million tons higher than 2007).
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- Price of input materials can go up in the last months due to the boom of production and consumption.
- Total disbursement of State budget capital reached over VND 40 trillion in the first eight months, equivalent to 47% of the year plan.
- The depression of the US economy and the global economy can cause some negative impact on export.
- Financial and credit crisis in the US can affect Việt Nam’s economic growth.
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By Nguyên Hồ