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Gov’t considers inflation curbing top priority

March 03, 2011, 15:00
PM Nguyen Tan Dung stressed that inflation curbing is the Government’s first-of-all task, and asked relevant ministries, sectors and localities to take synchronous measures to fulfill the goal.
PM Dung made the statement on March 2 in Hanoi at the Government’s regular meeting on socio-economic performance in February and the first two months of 2011. The Cabinet agreed that the socio-economic indicators in the first two month have advanced positively. Some major indicators in the first two months of 2011 Items Volume Year-on-year comparison Industrial output Up 14.6% Total acreage of agricultural cultivation 2,580 hectares equivalent to 94.1% Export turnover US $12.3 billion up 40.3% Import turnover US $14.2 billon up 26.8% VN-Index 522.6 points (record) Total retail sales VND 304,300 billion up 23.7% However, the national economy encountered with some challenges, including rising global food and foodstuff prices, domestic inflation hikes, natural disasters, and epidemics. The February Government’s regular meeting, Hanoi, March 2, 2011 PM Nguyen Tan Dung asked relevant ministries, sectors and localities to implement the Government’s Resolution 02/NQ-CP and Resolution 11/NQ-CP and shifted focus on curbing inflation. The Government chief noted the necessity to apply close fiscal policy by narrowing budget over-spending, practicing thrift, and strengthening budget revenue; to conduct tight and cautious monetary policy by controlling exchange rates, preventing dollarization and goldization; and combine the two policies. Ministries, sectors and localities were asked to control market prices, combat speculation, continue the administration reform, assist the poor, and apply market-oriented petrol price regulation mechanism. Mr. Dung also highlighted the importance of close coordination between the ministries, sectors and localities and the mass media in order to create social consensus for the fulfillment of the socio-economic development goals./.
MPI


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